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Three Arrows Capital Founders’ $1 Billion in Assets Frozen by Court! The IBW Court has seized $1 billion in assets belonging to crypto hedge fund Three Arrows Capital’s founders Su Zhu, Kyle Davies, and Davies’ wife Kelly Chen. As of December 18th, the court has frozen transactions on the mentioned individuals’ assets worldwide.
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The company’s liquidator Teneo confirmed the court’s decision, stating that assets had been seized from the founders and Kelly Chen in line with allegations that they were responsible for a depreciation in the value of Three Arrows Capital’s position.
In a statement by Teneo, it was stated that “The IBW Court issued a worldwide freezing order in line with the claims pursued by the liquidators, arguing that the founders should be held responsible for a depreciation equal to the value of 3AC’s position. The freezing of orders is requested”.
Following this development, it is stated that a similar decision was also taken by the court in Singapore. Also, the decision to seize $1 billion in assets belonging to the founders of Three Arrows Capital has caused a great stir in the financial world and the details of the incident are eagerly awaited.