The Spectacular Plunge of Three Arrows Capital

In a world where crypto promises to disrupt everything from finance to our daily caffeine fix, Three Arrows Capital (3AC) skyrocketed to fame and fortune, only to come crashing down like an overzealous altcoin. Founded by Kyle Davies and Su Zhu, these two fellas believed their own hype and thought they could dance on the precipice of financial ruin without consequence. Spoiler alert: they were wrong!

The Great Disappearance

As things unraveled last month, the duo slipped into the shadows faster than a cat in a room full of rocking chairs. Rumors circulated about their whereabouts like wild gossip at a high school reunion, and it turns out the liquidators of 3AC are having quite the challenge trying to locate them. According to court documents, these founders are as elusive as your last New Year’s resolution — now you see it, now you don’t.

Liquidators on the Hunt

Luckily, United States bankruptcy judge Martin Glenn waved the legal magic wand, granting liquidators the power to subpoena these founders. It’s as if they shouted, “Come on down!” to the ghost of 3AC. Zhu decided to break his silence to accuse the liquidators of baiting his firm. I can’t tell if we’re talking lawsuits or a poker game at this point, but I’d say it’s clear neither side is looking to show their cards anytime soon.

Grayscale’s Legal Tango with the SEC

Moving from the disappearing acts of 3AC to Grayscale’s ongoing soap opera with the U.S. Securities and Exchange Commission (SEC), the drama continues. Grayscale is currently seeking to transform its GBTC product into a Bitcoin exchange-traded fund (ETF). However, the SEC isn’t having it due to