Kyle Davies
Summary
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)
2012-01-01
Kyle Davies and Su Zhu co-found Three Arrows Capital in Singapore after leaving Credit Suisse.
2022-02-01
3AC acquires approximately $190 million in LUNA tokens as part of a $1 billion Luna Foundation Guard raise.
2022-05-12
Terra/LUNA ecosystem collapses; 3AC's LUNA holdings, worth approximately $462 million in late April, fall to near zero.
2022-06-16
3AC fails margin calls with multiple lenders; collapse becomes publicly known.
2022-06-27
BVI court orders liquidation of Three Arrows Capital. Teneo appointed as liquidator.
2022-07-02
Three Arrows Capital files for Chapter 15 bankruptcy protection in the United States. Court filings confirm $3.5 billion owed to 27 creditors.
2022-07-22
Davies and Zhu break public silence in interview, reportedly planning to move to the UAE. Their exact location remains undisclosed.
2023-01-01
3AC liquidators issue subpoena to Kyle Davies via Twitter in New York bankruptcy court, seeking company records and wallet credentials.
2023-03-30
Judge Martin Glenn orders Davies to comply with subpoena by April 13. Davies does not respond.
2023-04-01
OPNX (Open Exchange), co-founded by Davies and Zhu, launches in Dubai.
2023-05-02
Dubai's VARA formally reprimands OPNX founders including Davies for illegally promoting the exchange in the emirate.
2023-06-15
3AC liquidators file motion to hold Davies in contempt of court, seeking a $10,000 per day fine.
2023-08-11
Judge Glenn rules Davies was not properly served via Twitter subpoena because he renounced U.S. citizenship in late 2020. Contempt fine not imposed.
2023-08-01
VARA fines OPNX approximately $2.7 million for violating market conduct rules.
2023-09-13
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.
2023-09-29
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.
2023-12-18
BVI court issues worldwide freezing order on up to $1.1 billion in assets belonging to Davies, Zhu, and Davies' wife Kelly Chen.
2024-02-07
OPNX shuts down, advising customers to withdraw all assets by February 14, 2024.
2024-03-20
Davies gives Unchained Podcast interview stating he is unapologetic about 3AC's collapse, comparing himself to Goldman Sachs CEO Lloyd Blankfein.
2024-08-12
3AC liquidators file $1.3 billion claim against TerraForm Labs, alleging market manipulation led 3AC to purchase LUNA at artificially inflated prices.
2025-05-28
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 and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/30/2026, 7:10:33 PM
last updated: 5/30/2026, 7:10:38 PM
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