According to Teneo, the company’s liquidator, Su Zhu, co-founder of the hedge firm Three Arrows Capital, was detained on Friday at Changi airport in Singapore.Due to industry interdependencies, the collapse of the hedge fund in 2022 resulted in the rapid onset of a second crypto winter.
Due to his disobedience of a court order, Zhu and co-founder Kyle Davies were the subjects of a committal order, which sentenced them both to four months in jail.
The statement also said that it was still unknown where Davies was.The Monetary Authority of Singapore earlier in September imposed a nine-year ban on Zhu and Davies’ ownership and management of any registered capital markets firm.The couple received another censure from Dubai’s cryptocurrency authority in May for running their new business, an OPNX bankruptcy exchange, as an uncontrolled exchange.Additionally, a New York court’s subpoenas concerning the demise of 3AC were not answered by Davies.
The new project from the duo’s native coin decreased by 21% as its market cap decreased to $40 million.