Where in the world are the 3AC founders? Speculations abound
The creators of Three Arrows Capital are missing, according to reports, when court-appointed liquidators visited the firm's Singapore headquarters recently, all they discovered was a locked door and a stack of outdated mail.
Singapore-based 3AC is among the flagship cryptocurrency firms that have crumbled under bear pressure and faced liquidity issues driven by the market sell-off in recent weeks.
In June, a court in the British Virgin Islands, where 3AC had moved its registration, appointed advisory firm Teneo in June to liquidate 3AC assets.
Teneo senior managing directors Russell Crumpler and Christopher Farmer informed the court on July 8 that the whereabouts of Zhu Su and Kyle Davies, the co-founders of 3AC, were still unknown.
Most recently, a Singapore court approved Teneo’s petition order against 3AC issued in the British Virgin Islands. This recognition will give Teneo the legal ability to request access to 3AC’s financial records kept in Singapore
David Lesperance, a lawyer with over 30 years of experience as a taxation and citizenship adviser, told Cointelegraph that he believes the founders have availed themselves of a backup plan and gone underground. Pioneer founders in previously unregulated industries, such as gaming and crypto, need to maintain a power balance when regulators inevitably come calling.
He added that when negotiating to adjust business practices to the newly established standard, it is best to maintain parity in the relationship. This is best done at a distance, where it is difficult for the regulator to bully. According to Lesperance, this allows the company lawyers to negotiate with liquidators, courts and regulators on an even playing field.
Lesperance further explains that in the 1990s,
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