- Kyle Davis ran 3AC alongside Suh Tzu, but hasn't been affected yet.
- At the same time, Davis posts all of his risky cryptocurrency bets on X.
- Sam Bankman Freed's FTX is a downstream victim of the 3AC disaster
Crypto fugitive Kyle Davis publicly committed corrupt gambling as if his crypto hedge fund, Three Arrows Capital, never erased the nearly $10 billion in value it gave investors in 2022. continues to be engaged.
Davis and business partner Hsu Tzu are owed more than $3.5 billion by creditors after Singapore-based fund Three Arrows Capital (3AC) collapsed amid the 2022 crypto recession. facing.
Yet Davis poses as a master trader and posts his latest crypto bets on X for all to see, even though authorities have been unable to locate and arrest him. It was.
In an April 17 post, Davis shared screenshots of his portfolio and Zhu's on cryptocurrency exchange OX.FUN, where users can copy Davis and Zhu's trades.
“It's not over until a fat woman sings,” Davis wrote, seemingly boasting that he had outperformed Zhu even though both men's portfolios had declined significantly at the time. .
This has led some to believe that poor performance may be a hint as to why 3AC ultimately failed.
Many say this is a complete slap in the face to the Singapore authorities, who sentenced Zhu and Davis to four months in prison in September, as Davis was unwilling to apologize for the 3AC scam or turn himself in. people are watching
Zhu completed his sentence and was released in December 2023, but Davis has managed to evade arrest since the beginning.
So it's no wonder that X users were quick to pounce on Davis' tone-deaf post.
One user applauded the reply, writing: “It's not over until you're in jail.”
Another said: “Is this why 3AC went bad?”[?]'
Sam Bankman Freed, founder of another fraudulent cryptocurrency venture, FTX, was also mentioned in the reply.
“Are you talking about fat women?” one user wrote, paired with a particularly offensive GIF of Bankman Freed.
Another added: “You can't make money from trading, you can't leave Bali or you'll be arrested.” Talk about a tough situation!
Last month, Bankman Freed was sentenced to 25 years in prison for stealing $8 billion in customers' money.
And finally, someone told Davis the obvious.
“you” [sic] Both down, don't [sic] celebrate. '
The rest of the people responding to Davis' tweet either mocked him and told him to “get off crypto” or “read the room.”
As of Sunday, Zhu's investment was back in the black, but Davies remained in the red, according to the OX.FUN website.
The June 2022 3AC collapse was triggered when LUNA and Terra crypto tokens hit zero, and is seen as the beginning of what industry natives call the “crypto winter.”
Shortly after 3AC fell into bankruptcy, cryptocurrency lender Voyager filed for bankruptcy after 3AC was unable to repay a $666 million loan, according to the Wall Street Journal.
After several months, the cryptocurrency market did not recover, and Bankman Freed's FTX exploded in November 2022.
The cycle continued again with BlockFi, which collapsed after FTX was unable to collect hundreds of millions of dollars it borrowed from crypto lenders.
According to Investopedia, the cryptocurrency was able to recover a bit in early 2024, with Bitcoin reaching an all-time high of $75,830 on March 14, 2024.
The world's largest cryptocurrency is approximately $64,700.
In addition to posting their trades on The exchange was shut down in February.
At this time, Davis has not been arrested and his whereabouts remain unknown.
