Kyle Davis, co-founder of failed cryptocurrency hedge fund Three Arrows Capital (TAC), said he does not regret losing billions of client funds and plans to avoid jail time.

On the Unchained podcast, Kyle Davis stated that he is not worried about the collapse of TAC and continues to insist that his business record remains clean. Davis also said he would make every effort to avoid being returned to Singapore and facing jail time. The founder of Three Arrows Capital admitted: when asked about his whereabouts, he answered that he was in Europe. Although in fact he hesitated whether to answer: in Europe or in Asia. Last month he
reported Media that lives in Portugal.

“Do I regret that the company went bankrupt? No. Many companies go bankrupt all the time, so this is quite common. Maybe we can teach other crypto lenders how to do better when they go bust,” Davis laughs.

In 2023, Davis and his partner Su Zhu announced the launch of a hybrid platform OPNX for trading claims against bankrupt crypto companies. Davis promised that the platform's launch would be “impressive” and hoped that he could remain a respected figure in the crypto industry. However, already in February 2024, OPNX announced that it would close and completely cease all operations by February 14th.

Davis also called it an exaggeration to claim that the founders of the cryptocurrency hedge fund were refusing to cooperate with Teneo, TAC's liquidator. According to Davis, the liquidator deliberately tried to create this impression in an attempt to recover more funds. Following the hedge fund's collapse in 2022, TAC creditors are owed about $3.3 billion, according to Teneo's calculations.

In January 2023, Davis and Zhu received a subpoena through the social network X because they avoided communicating with the relevant authorities and did not interact with the liquidator. In December, a British Virgin Islands court ordered the freezing of $1.14 billion in assets between Davis and Zhu.