City Arrow Financial News

Su Zhu, the co-founder of now-collapsed hedge fund Three Arrows Capital (3AC), has shared his thoughts on his time spent in prison, describing it as an “enjoyable experience overall.”

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A US District Court judge has signed off the settlement two months after a jury found Terraform and Kwon civilly liable for fraud after the $40 billion collapse of the company and its ecosystem.The collapse happened after, in May 2022, the TerraUSD stablecoin was de-pegged from the US dollar, prompting it and Terraform’s other tokens to plummet to close to zero in value, leading to "devastating losses to countless investors," says the SEC.Terra's implosion also set off a series of devastating events for the crypto industry, causing the failure of crypto hedge fund Three Arrows Capital which, in turn, hit Genesis Global Capital and FTX.SEC Chair Gary Gensler says: “Terraform and Do Kwon’s fraudulent activities caused devastating losses for investors, in some cases wiping out entire life savings. Their fraud serves as a reminder that, when firms fail to comply with the law, investors get hurt."The judgement, to which Terraform and Kwon consented, includes $4.05 billion of disgorgement plus interest, and a $420 million civil fine for the company.

A US District Court judge has signed off the settlement two months after a jury found Terraform and Kwon civilly liable for fraud after the $40 billion collapse of the company and its ecosystem.The collapse happened after, in May 2022, the TerraUSD stablecoin was de-pegged from the US dollar, prompting it and Terraform’s other tokens to plummet to close to zero in value, leading to "devastating losses to countless investors," says the SEC.Terra's implosion also set off a series of devastating events for the crypto industry, causing the failure of crypto hedge fund Three Arrows Capital which, in turn, hit Genesis Global Capital and FTX.SEC Chair Gary Gensler says: “Terraform and Do Kwon’s fraudulent activities caused devastating losses for investors, in some cases wiping out entire life savings. Their fraud serves as a reminder that, when firms fail to comply with the law, investors get hurt."The judgement, to which Terraform and Kwon consented, includes $4.05 billion of disgorgement plus interest, and a $420 million civil fine for the company.

Three American sports personalities, Rob Gronkowski, Victor Oladipo, and Landon Cassill, agreed on May 3 to collectively pay $2.42 million to settle allegations in the Voyager promotion case.

Bankrupt crypto firms FTX Trading and Voyager Digital Holdings have agreed to settle loan disputes, which would help reimburse creditors.

LayerZero co-founder and CEO Bryan Pellegrino accused Kyle Davies, co-founder of the now-defunct Three Arrows Capital (3AC), of trying to persuade his firm to transfer its entire treasury shortly before the liquidation of 3AC on March 21.

Kyle Davies, the founder of collapsed crypto hedge fund Three Arrows Capital (3AC) says he has nothing to apologize for in a new interview on the latest episode of Unchained.

Paolo Ardoino, the CEO of Tether, the issuer of USDT, the world’s largest stablecoin by market cap, has  taken a jab at Digital Currency Group (DCG), the distressed crypto firm currently facing a lawsuit from the New York Attorney General (NYAG). 

Terra founder Do Kwon has been caught in a legal battle between the United States and South Korea over which nation gets to extradite the crypto mogul to their turf.

Digital Currency Group (DCG), the parent company of the now-defunct cryptocurrency lending platform Genesis Global Capital, has taken action to dismiss the lawsuit filed against it by New York Attorney General Letitia James.

Sotheby’s, the 279-year-old British auction house, is expected to close the sale of an EtherRock (EthRock) non-fungible token (NFT) on Wednesday, in a sealed bid auction.

Digital Currency Group (DCG) has successfully settled over $1 billion in debt, including the substantial amount of nearly $700 million owed to its bankrupt subsidiary, Genesis. 

In the year 2022, Three Arrows Capital (3AC), which had previously been a well-known brand in the bitcoin hedge fund industry, was confronted with a catastrophic failure. This decrease was not simply a single occurrence; rather, it was a trigger in a chain of domino events that occurred, which caused the cryptocurrency market to be shaken. The court in the British Virgin Islands has taken quick action by freezing assets associated to the fund's founders, Su Zhu and Kyle Davies, as well as Davies' wife, Kelly Chen, with a potential value of up to $1.14 billion.

A British Virgin Islands court has issued an order freezing approximately $1.14 billion in assets belonging to the co-founders of Three Arrows Capital (3AC).

Bankrupt crypto lender Genesis and its parent company, Digital Currency Group (DCG), has struck a deal that could end an ongoing lawsuit to claw back $620 million in repayments from DCG. 

Creditors of the crypto derivatives exchange CoinFLEX are alleging that the newly established creditor claims marketplace OPNX, founded by bankrupt crypto hedge fund Three Arrows Capital (3AC) co-founders Kyle Davies and Su Zhu, wrongfully used CoinFLEX assets without their consent.

Some creditors of cryptocurrency futures exchange CoinFLEX are alleging that OPNX, a new crypto exchange established in part by Three Arrows Capital (3AC) co-founders Kyle Davies and Su Zhu, was created using CoinFLEX assets without their consent. 

Crypto lender Genesis Global Capital has taken legal action against cryptocurrency exchange Gemini Trust in an attempt to reclaim over $689 million. 

Crypto trading platform WOO X has resumed operations after one of its market markers saw a significant amount of crypto assets withdrawn due to a breach of its security system.

Three Arrows Capital (3AC) co-founder Kyle Davies has reportedly been seen in Bali as he continues to evade authorities over the collapse of the defunct hedge fund.