Crypto fugitive Kyle Davies has continued to publicly engage in degenerate gambling, as if his crypto hedge fund Three Arrows Capital will never supposedly erase approximately $10 billion in value for investors in 2022.
Davies and his business partner Su Zhu face more than $3.5 billion in claims from creditors after their now-bankrupt fund, Singapore-based Three Arrows Capital (3AC), collapsed amid the 2022 crypto crisis. .
This hasn’t stopped Davies from trying to pose as a master trader and post his latest crypto bets on
In a post on April 17, Davies shared a screenshot of his wallet along with Zhu’s wallet on OX.FUN, a crypto exchange where users can copy the trades that Davies and Zhu make.
“It ain’t over until the fat lady sings,” Davies wrote, appearing to brag about having done better than Zhu even though both men’s wallets were massively sagging at the time.
This led some to wonder if its poor performance was an indication of why 3AC ultimately failed.
Kyle Davies’ post on
Davies (pictured) co-founded Three Arrows Capital with Su Zhu in 2012
Davies (left) and Zhu (center). At its peak, the fund managed around $18 billion, but suffered huge losses when the LUNA and Terra cryptocurrencies collapsed.
Many see this as a complete slap in the face because of Davies. unwillingness to apologize for 3AC fraud or surrender to Singapore authorities, who sentenced Zhu and Davies to four months in prison in September.
Zhu served his sentence and was released in December 2023, while Davies managed to evade capture from the start.
So it’s no surprise that X users were quick to attack Davies for his tone-deaf post.
One user clapped back in the responses writing, “This ain’t over until you’re in prison.”
Another said: ‘Is this why 3AC went under?[?]’
Sam Bankman-Fried, the founder of another fraudulent crypto company, FTX, was also mentioned in the responses.
—Are you referring to that fat lady? one user wrote, pairing it with a particularly nasty GIF of Bankman-Fried.
Another added: “You can’t make money from trading, you can’t leave Bali or you will be arrested.” Talk about a tough situation to be in!’
Laura Shin (pictured left) interviews Davies about 3AC and why he has no regrets about the collapse
Last month, Bankman-Fried was sentenced to 25 years in prison for stealing $8 billion of his clients’ money.
The rest of the people in the replies to Davies’ tweet were laughing at him, telling him to “leave crypto,” or telling him to “read the room.”
Last month, Bankman-Fried was sentenced to 25 years in prison for stealing $8 billion of his clients’ money.
And finally, someone stated the obvious to Davies.
‘Are [sic] both down, no [sic] celebrate.’
The rest of the people in the replies to Davies’ tweet were laughing at him, telling him to “leave crypto,” or telling him to “read the room.”
As of Sunday, Zhu’s investments have recovered toward the green, while Davies is still in the red, according to OX.FUN. website.
The collapse of 3AC in June 2022, which occurred as crypto tokens LUNA and Terra hit zero, is considered the beginning of what industry natives call a “crypto winter.”
Davies (left) has not yet been arrested or admitted guilt
The two founders are shown working hard, before the crypto fund crashed in 2022.
Shortly after 3AC’s bankruptcy, cryptocurrency lender Voyager went bankrupt because 3AC could no longer pay. the 666 million dollars in loans that he owed themaccording to the Wall Street Journal.
Months later, the cryptocurrency market failed to recover and in November 2022, Bankman-Fried’s FTX exploded.
The cycle continued once again with BlockFi, which collapsed after FTX failed to recover the hundreds of millions it borrowed from the cryptocurrency lender.
Cryptocurrencies managed to recover somewhat in early 2024, when Bitcoin hit its all-time high of $75,830 on March 14, 2024, according to investopedia.
The largest cryptocurrency in the world is around $64,700.
Beyond listing their trading on X, Davies and Zhu are so brazen that they even created a new company called OPNX, a bankruptcy claims exchange, less than a year after 3AC went bankrupt. The exchange closed in February.
So far, Davies has not been arrested and his whereabouts are still unknown.