Who are Su Zhu & Kyle Davies?

After five weeks in hiding, the disgraced founders of Three Arrows Capital spoke extensively about the spectacular implosion of their once high-flying hedge fund, saying their bungled crypto speculation unleashed cascading margin calls on loans that should never have been made. Su Zhu and Kyle Davies, both 35, first became friends in high school.

Why did Zhu & Davies put 3AC on a trade?

Zhu and Davies, long among the most vociferous crypto bulls in an industry known for extremes, put on trades – turbocharged by leverage – that put 3AC at the center of a series of implosions that convulsed the crypto market as prices retreated this year from their highs last fall.

How did Zhu & Davies start three arrows capital?

In 2012, while both were temporarily living in San Francisco, Zhu and Davies pooled their savings and borrowed money from their parents to scrape together about $1 million in seed funds for Three Arrows Capital.

What happened with Zhu & Davies?

On an awkward July 8 Zoom call, participants with Zhu’s and Davies’s usernames logged on with their cameras off, refusing to unmute themselves even as the pair of British Virgin Islands liquidators fired dozens of questions at their avatars. The authorities are also taking a closer look at Three Arrows.