EXCLUSIVE: DeFiance Capital distances itself from bankrupt crypto fund Three Arrows Capital by Yogita_Khatri5
DeFiance Capital has said in a new statement that it’s a separate firm from Three Arrows Capital.DeFiance Capital, the crypto venture capital firm with ties to Three Arrows Capital , has distanced itself from theSharing the statement exclusively with The Block on Friday, DeFiance Capital said its founder Arthur Cheong created the firm"entirely separate" from 3AC in 2020, eight years after 3AC was founded by Kyle Davies and Zhu Su.
"Arthur grew, developed and managed the DC [DeFinance Capital] business, assets and investments since that time," the statement claims."Arthur is not, and never was, a director of 3AC and/or any of its affiliates. Further, Arthur is not, and never was, involved in the management of 3AC." 3AC had grown into one of the crypto industry's biggest hedge funds, before May's collapse of the Terra ecosystem left it facing significant losses. Last month, a court in the British Virgin Islands
financial advisory firm Teneo to handle 3AC's liquidation and 3AC filed for Chapter 15 bankruptcy in New York a few days later.
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