1. BITBILIHome
  2. Article

Three Arrows Capital Founders Launch New VC Fund, 3AC Ventures, Following Bankruptcy

• 44 views

TL;DR Breakdown

  • Open Exchange (OPNX) and 3AC Ventures have announced a partnership to support projects within the OPNX ecosystem.
  • The collaboration is focused on fostering innovation and resilience in the crypto industry, with a specific emphasis on initiatives that contribute to the decentralized future of finance.

Description

In a surprising turn of events, the co-founders of Three Arrows Capital (3AC), Su Zhu and Kyle Davies, have resurfaced with a new venture capital fund named 3AC Ventures. This move comes after the bankruptcy filing of 3AC in June 2022, which was caused by a series of leveraged trades gone wrong and the collapse … Read more

In a surprising turn of events, the co-founders of Three Arrows Capital (3AC), Su Zhu and Kyle Davies, have resurfaced with a new venture capital fund named 3AC Ventures. This move comes after the bankruptcy filing of 3AC in June 2022, which was caused by a series of leveraged trades gone wrong and the collapse of the Terra Luna ecosystem. 

The new fund aims to generate superior risk-adjusted returns without relying on leverage. Additionally, the duo has entered into a partnership with Open Exchange (OPNX), a platform for trading claims against bankrupt crypto entities, to invest in projects within the OPNX ecosystem and contribute to the decentralized future of finance.

Contents
hide

1
3AC Ventures Emerges from the Ashes of Three Arrows Capital

2
Partnership with OPNX to Foster Innovation in the Crypto Ecosystem

3
Rebuilding After Bankruptcy: A Rocky Path to Redemption

4
Conclusion

3AC Ventures Emerges from the Ashes of Three Arrows Capital

After the downfall of Three Arrows Capital, Su Zhu and Kyle Davies have taken a bold step forward by launching 3AC Ventures. This new venture capital fund aims to prioritize superior risk-adjusted returns without relying on leverage, signaling a strategic shift from their previous investment approach. The founders, who could not be located following the bankruptcy filing, have resurfaced and expressed their commitment to the decentralized future of the crypto industry through this new venture.

Partnership with OPNX to Foster Innovation in the Crypto Ecosystem

In a recent announcement, Open Exchange (OPNX) unveiled its partnership with 3AC Ventures. OPNX, a platform facilitating the trading of claims against bankrupt crypto entities, recognized the potential of collaborating with 3AC Ventures to support projects within its ecosystem. The partnership is specifically focused on investing in initiatives that contribute to the decentralized future of finance. By combining resources and expertise, OPNX and 3AC Ventures aim to foster innovation and resilience within the crypto ecosystem.

The collaboration between OPNX and 3AC Ventures holds great promise for fostering innovation and resilience within the crypto ecosystem. By leveraging their combined resources and expertise, the partnership aims to support initiatives that contribute to the development of a decentralized future in the realm of finance and blockchain technology.

Rebuilding After Bankruptcy: A Rocky Path to Redemption

Following the bankruptcy filing of 3AC in June 2022, the firm faced significant challenges, including creditor claims amounting to $3.4 billion. Both Su Zhu and Kyle Davies seemed to have disappeared, with media reports suggesting their presence in Dubai and Indonesia. However, the recent launch of 3AC Ventures signifies a potential comeback for the co-founders. 

While Davies faces legal action as 3AC liquidators filed a motion to hold him in contempt of court in the United States, Su Zhu’s Singaporean citizenship protects him from U.S. jurisdiction. Despite these obstacles, the duo remains resilient, driven by their vision for the future of decentralized finance.

Conclusion

The emergence of 3AC Ventures, the new venture capital fund founded by Su Zhu and Kyle Davies, marks a significant development following the bankruptcy of Three Arrows Capital. With a renewed focus on superior risk-adjusted returns without leverage, the founders are determined to rebuild their reputation and contribute to the decentralized future of the crypto industry. Through their partnership with OPNX, the duo aims to invest in projects within the OPNX ecosystem, fostering innovation and resilience in the evolving landscape of finance. While challenges persist, the launch of 3AC Ventures showcases the resilience and determination of Zhu and Davies as they embark on their journey to redemption.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Three Arrows Capital Founders Launch New VC Fund, 3AC Ventures, Following Bankruptcy

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年6月24日 13:12
Next 2023年6月24日 15:01

Related articles

  • London Lions Embrace Cryptocurrency: Partner with BitPay to Accept Digital Payments

    TL;DR Breakdown London Lions basketball club partners with BitPay to accept cryptocurrencies like Dogecoin and XRP for merchandise. The move showcases the intersection of sports and crypto, following the footsteps of the Dallas Mavericks. The sports industry is setting a trend for wider cryptocurrency payment acceptance across industries. Description London Lions, the British basketball club, has made a groundbreaking move into the digital currency ecosystem by partnering with BitPay, a leading cryptocurrency payment platform. This partnership will enable the club to accept digital currencies as payments for their merchandise, including popular cryptocurrencies like Dogecoin (DOGE) and XRP. By embracing these digital assets, London Lions … Read more London Lions, the British basketball club, has made a groundbreaking move into the digital currency ecosystem by partnering with BitPay, a leading cryptocurrency payment platform. This partnership will enable the club to accept digital currencies as payments for their merchandise, including popular cryptocurrencies like Dogecoin (DOGE) and XRP. By embracing these digital assets, London Lions is bridging the gap between the world of crypto and sports in a rare and innovative manner. Fans…

    Article 2023年6月20日

  • Circle launches Programmable Wallets to simplify blockchain app development and foster crypto adoption

    TL;DR Breakdown Circle launched Programmable Wallets to simplify blockchain app development. The platform allows customization for user and developer-controlled wallets and is available on Ethereum, Avalanche, and Polygon networks. The initiative aims to expand stablecoin payments in the real-world economy, enhancing user experience and fostering blockchain adoption. Description Circle has announced the launch of Programmable Wallets. This new product line is designed specifically for developers, empowering them to embed secure crypto wallets into any application and utilize the speed and reach of Web3 technology. Programmable Wallets, the first in Circle’s Web3 Services, answers the pressing need to simplify the development of blockchain-powered apps … Read more Circle has announced the launch of Programmable Wallets. This new product line is designed specifically for developers, empowering them to embed secure crypto wallets into any application and utilize the speed and reach of Web3 technology. Programmable Wallets, the first in Circle’s Web3 Services, answers the pressing need to simplify the development of blockchain-powered apps to encourage wider adoption. Though blockchain networks like Ethereum have evolved substantially, fewer than 0.5% of the world’s 100…

    Article 2023年8月9日

  • China urges dialogue with the U.S. – Details

    TL;DR Breakdown China’s Defense Minister, Li Shangfu, calls for dialogue with the U.S. at an Asian security summit. Li refused direct talks with his U.S. counterpart amid ongoing bilateral tensions. Tensions arise from South China Sea disputes, chip export restrictions, and Taiwan issues. While the specter of tension continues to hover between China and the United States, there’s a glimmer of hope for resolution as the former has expressed its preference for dialogue over confrontation. This affirmation emerged from the mouth of Li Shangfu, China’s Defense Minister, during Asia’s top security summit in Singapore. Li’s comments, as striking as they are, put a spotlight on the delicate balance of power that exists between these two superpowers. Stance of China’s Defense Minister at the Shangri-La Dialogue The Shangri-La Dialogue in Singapore, a meeting ground for high-level defense officials, was buzzing as Li presented China’s perspective on the dynamic and often challenging relationship with the United States. According to him, China and the United States, despite their distinct systems and contrasts in multiple aspects, can find common ground to foster bilateral ties…

    Article 2023年6月8日

  • China’s ambitious vision for BRICS expansion

    Description China’s plans to reshape the global power dynamic were starkly evident when they spearheaded the expansion of the BRICS bloc. With six new nations – Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates – the newly-expanded BRICS now boasts of an unprecedented scale and impact, challenging the long-held dominance of Western coalitions. … Read more China’s plans to reshape the global power dynamic were starkly evident when they spearheaded the expansion of the BRICS bloc. With six new nations – Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates – the newly-expanded BRICS now boasts of an unprecedented scale and impact, challenging the long-held dominance of Western coalitions. The Changing Landscape of Economic Powerhouses No longer content to be overshadowed by institutions that give preferential treatment to the Western world, China’s strategic move sends a clear message. The G7, with its elite group of Canada, France, Germany, Italy, Japan, the UK, and the US, has long held the reins of global economic power. However, their collective influence, which comprises 9.8% of the world’s populace…

    Article 2023年8月27日

  • $3.1M NFT scandal unearthed by a Blockchain investigator

    TL;DR Breakdown Blockchain investigator ZachXBT’s research has played a crucial role in a class-action lawsuit filed in Canada against Boneheads, an NFT project accused of orchestrating a rug pull worth $3.1 million. The Boneheads team is facing charges of breaching contracts with investors by failing to deliver on their outlined roadmap, misappropriating funds, engaging in fraudulent and negligent misrepresentation, and various other accusations. The court filing specifically mentions ZachXBT’s investigation into the Boneheads project, which was shared on Twitter in July 2022 along with subsequent posts in the following month. Description Blockchain investigator ZachXBT’s research has played a crucial role in a class-action lawsuit filed in Canada against Boneheads, an NFT project accused of orchestrating a rug pull worth $3.1 million. ZachXBT took to Twitter on July 7 to shed light on the lawsuit, reaffirming allegations that the Boneheads team swiftly vanished after spending the minted … Read more Blockchain investigator ZachXBT’s research has played a crucial role in a class-action lawsuit filed in Canada against Boneheads, an NFT project accused of orchestrating a rug pull worth $3.1 million. ZachXBT…

    Article 2023年7月9日
TOP