Three Arrows Liquidators Seize $40 Million as Asset Probe Widens
- Fund’s assets include crypto, bank accounts and NFTs
- Liquidators think founders still control some bank accounts
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Liquidators overseeing the winding down of Three Arrows Capital have so far gained control of assets worth at least $40 million, or just a tiny fraction of what the crypto hedge fund’s creditors say they’re owed.
The fund’s assets mainly consist of bank accounts, cryptocurrencies, nonfungible tokens and stakes in digital-asset firms, a British Virgin Islands-based liquidator from Teneo said in US bankruptcy court filings. The liquidators believe Kyle Davies and Zhu Su, Three Arrows’ founders, are still in possession or control of “certain digital assets and bank accounts,” Teneo’s Russell Crumpler said in a sworn declaration Wednesday.