Last year, following the collapse of stablecoin issuer Terra and the subsequent losses incurred by many investors, Three Arrows Capital (3AC) became one of the hardest-hit entities. Severely impacted by Terra’s downfall, the company filed for Chapter 15 bankruptcy in July of the same year.
After this turbulent period, Su Zhu, co-founder of Three Arrows Capital, teamed up with his partner Kyle Davies to establish a new cryptocurrency exchange, OPNX ($OX). However, Zhu’s challenges continued when he was arrested at a Singapore airport on September 29 while attempting to flee, leading to a four-month prison sentence.
Possible Release Within a Month
According to Bloomberg, Su Zhu is expected to be released within this month due to good behavior. However, Zhu was reportedly interrogated in a Singapore court before his release.
Liquidators demanded detailed information from Zhu about how 3AC went bankrupt and the whereabouts of its assets. During the two-day hearing, Zhu provided the necessary explanations to the court. The report noted that detailed information remained confidential due to the proceedings’ private nature.