Since their crypto hedge fund Three Arrows Capital collapsed last year — leaving the firm owing creditors $3.3 billion and the crypto market reeling — founders Kyle Davies and Su Zhu have been living the high life, according to a New York Times report.
Davies spent his time “painting in cafes and reading Hemingway on the beach,” according to the Times. He meditated, took shrooms on a rooftop, and flew to Bahrain for a Formula 1 event.
He posted photos of his travels, which were ongoing as of May, on Twitter. In one he was petting a Tiger. In another, he marveled at Southeast Asian architecture.
Immediately following the collapse of his company, Zhu played a lot of video games, he tweeted.
According to the Times, Zhu started to hang out with surfers and UFC fighters. After returning home to his mansion in Singapore, he and his wife installed a permaculture farm in their backyard with ducks, chickens, and dragonflies, the Times reported.
As the pair traveled, liquidators complained about being unable to locate them. They did not show up to an emergency court meeting, and when they did appear on a Zoom meeting, were unresponsive.
In April, Davies and Zhu launched Open Exchange, on which people who lost money in the crypto collapse can buy and sell bankruptcy claims.
Though there’s one big thing they did have to forego: The superyacht the two had built. The boat, which featured five decks, two retractable terraces, and a swimming pool, was named “Much Wow” in a reference to a crypto meme, the Times reported. The duo missed their last payment to the shipbuilder, per the Times, and the boat was sold to another buyer.
Note:- (Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor. The content is auto-generated from a syndicated feed.))