Who is Su Zhu & Kyle Davies?

Su Zhu and Kyle Davies turned 3AC into the most important hedge fund in crypto, but they bet everything on prices only going up. Days before Bitcoin fell decisively below $40,000, and two months before his hedge fund went bankrupt, Su Zhu sat down for an interview in the Bahamas, one shoeless foot tucked under his leg.

Who owns 3AC?

In retrospect, 3AC has always been a mystery. The fund itself is in the British Virgin Islands, and the company is licensed in Singapore to manage other people’s money. But Zhu and Davies have always maintained that the pot—all $3 billion of it, from what Davies told the Journal— is entirely theirs.

Is Terra-Luna still a viable path to salvaging 3AC?

“The Terra-Luna situation caught us very much off guard,” 3AC’s Davies told the Wall Street Journal last month, when he still saw a path to salvaging the company through divestments and injections of fresh capital.

Why was 3AC reprimanded?

On June 30, the Monetary Authority of Singapore reprimanded 3AC, without a fine or other sanction, for providing false information and exceeding the limit on its assets under management. Before the debacle, 3AC was seeking to move to Dubai, which has welcomed the crypto industry.