🧵 1. Co-founder of crypto hedge fund 3AC avoids contempt charges after evidence of Singaporean citizenship emerges in bankruptcy case. #crypto
🧵 1. Co-founder of crypto hedge fund 3AC avoids contempt charges after evidence of Singaporean citizenship emerges in bankruptcy case. #crypto
🧵 2. Judge denies motion to hold Kyle Davies in contempt, stating rulings were made assuming he was a US citizen. Davies filed evidence of renouncing US citizenship and becoming a Singaporean citizen.
🧵 3. US court lacks jurisdiction over Davies due to his Singaporean citizenship, says Judge. Foreign representatives may consider compelling compliance through Singaporean courts.
🧵 4. 3AC co-founder Su Zhu, also summoned, not subject to the subpoena as he resides outside the US. Liquidators aiming to recover $1.3 billion from co-founders who owe creditors $3.5 billi.
🧵 5. Co-founders' whereabouts largely unknown since 3AC collapse. Davies listed Singaporean residence in filings. Contempt motion denied by the Judge.
🧵 Read more at: https://cointelegraph.com/news/3ac-cofounder-avoids-contempt-charges-following-evidence-singaporean-citizenship