Kyle Davies

Collapsed crypto hedge fund Three Arrows Capital’s co-founder Kyle Davies said he renounced his American citizenship and therefore does not need to answer to the U.S. courts. Davies said that he successfully became a permanent resident of Singapore in 2017. Three Arrows Capital—3AC—went bankrupt in 2022 after a court in the British Virgin Islands ordered it to liquidate. The Singapore-based firm invested client money in new crypto ventures but was hit hard by the collapse of crypto project Terra in May 2022. Court-appointed liquidator Teneo has already secured $35.6 million cash held in bank accounts, a $30 million yacht, and certain NFTs. But they've stressed that those assets represent a small portion of the $3.5 billion hole in 3AC;s balance sheet when it filed for bankruptcy.