Kyle Davies
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anchored·53CXCW…M5vbSummary
Kyle Davies is the co-founder of Three Arrows Capital (3AC), a Singapore-based cryptocurrency hedge fund that collapsed in June 2022 with approximately $3.5 billion in liabilities owed to 27 creditors. Following the collapse, Davies evaded liquidators, was sentenced in absentia to four months imprisonment in Singapore for failing to cooperate with court-ordered investigations, and received a nine-year ban from Singapore's Monetary Authority of Singapore (MAS) for regulatory violations including providing false information to regulators. He subsequently co-founded OPNX, a crypto bankruptcy claims exchange that also failed and shut down in early 2024.
Connected Entities
1 entities- + 11 more
Timeline(21 events)
2012
Kyle Davies and Su Zhu co-found Three Arrows Capital in Singapore after leaving Credit Suisse.
February 2022
3AC acquires approximately $190 million in LUNA tokens as part of a $1 billion Luna Foundation Guard raise.
12 May 2022
Terra/LUNA ecosystem collapses; 3AC's LUNA holdings, worth approximately $462 million in late April, fall to near zero.
16 June 2022
3AC fails margin calls with multiple lenders; collapse becomes publicly known.
27 June 2022
BVI court orders liquidation of Three Arrows Capital. Teneo appointed as liquidator.
2 July 2022
Three Arrows Capital files for Chapter 15 bankruptcy protection in the United States. Court filings confirm $3.5 billion owed to 27 creditors.
22 July 2022
Davies and Zhu break public silence in interview, reportedly planning to move to the UAE. Their exact location remains undisclosed.
2023
3AC liquidators issue subpoena to Kyle Davies via Twitter in New York bankruptcy court, seeking company records and wallet credentials.
30 March 2023
Judge Martin Glenn orders Davies to comply with subpoena by April 13. Davies does not respond.
April 2023
OPNX (Open Exchange), co-founded by Davies and Zhu, launches in Dubai.
2 May 2023
Dubai's VARA formally reprimands OPNX founders including Davies for illegally promoting the exchange in the emirate.
15 June 2023
3AC liquidators file motion to hold Davies in contempt of court, seeking a $10,000 per day fine.
11 August 2023
Judge Glenn rules Davies was not properly served via Twitter subpoena because he renounced U.S. citizenship in late 2020. Contempt fine not imposed.
August 2023
VARA fines OPNX approximately $2.7 million for violating market conduct rules.
13 September 2023
MAS issues 9-year prohibition orders against Kyle Davies and Su Zhu, barring them from regulated financial activities in Singapore and citing false information provided to regulators.
29 September 2023
Su Zhu is arrested at Singapore's Changi Airport. Committal order also issued against Davies in absentia for four months imprisonment. Davies remains at large.
18 December 2023
BVI court issues worldwide freezing order on up to $1.1 billion in assets belonging to Davies, Zhu, and Davies' wife Kelly Chen.
7 February 2024
OPNX shuts down, advising customers to withdraw all assets by February 14, 2024.
20 March 2024
Davies gives Unchained Podcast interview stating he is unapologetic about 3AC's collapse, comparing himself to Goldman Sachs CEO Lloyd Blankfein.
12 August 2024
3AC liquidators file $1.3 billion claim against TerraForm Labs, alleging market manipulation led 3AC to purchase LUNA at artificially inflated prices.
28 May 2025
Davies' wife Kelly Chen sells Singapore bungalow at Peirce Hill for S$37 million (approximately USD $28.7 million), amid ongoing BVI asset freeze proceedings.
Decision Log
- hash: Dn9PUqSvwL3tVd1shEeF6Hxs6tZav1m9yLZx4AvqAy38
This investigation is cryptographically anchored to the Solana blockchain (1 event). 0 of 40 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/30/2026, 7:10:33 PM
last updated: 8/29/2026, 1:34:31 AM
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