A judge gave liquidators permission to subpoena Three Arrows Capital founders Su Zhu and Kyle Davies. However, there are likely difficulties ahead in exerting jurisdiction over the firm’s crypto assets.
A United States court has given liquidators permission to subpoena the founders of crypto investment firm Three Arrows Capital , including Su Zhu and Kyle Davies.by Law360 on July 12, U.S. Bankruptcy Judge Martin Glenn issued an order on Tuesday allowing the subpoenas after being told by the counsel for the liquidators that the founders' whereabouts are unknown and there were fears they could be selling off tens of millions in assets.
Goldberg raised concerns that 3AC may be selling assets by pointing to media reports that a Singapore property worth “tens of millions” was being sold by Zhu. Presiding Judge Martin Glenn acknowledged that extracting crypto funds from the firm presents “tricky issues” regarding the location of the firm’s crypto wallets.on July 12 that Goldberg contends that the crypto wallets fall under U.S. jurisdiction and those assets are now subject to his client’s discretion. Goldberg said,
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