Kyle Davies, co-founder of 3AC, said he would not apologize for the fund's bankruptcy

PANews reported on March 20 that Kyle Davies, co-founder of the now-defunct crypto hedge fund Three Arrows Capital (3AC), said in an interview with Unchained Podcast that he would not apologize for the fund’s bankruptcy, according to CoinDesk. He believes that corporate bankruptcy is a common phenomenon and says that they are doing their best to add value in different ways. Davies and another co-founder, Su Zhu, founded Three Arrows Capital in 2012, but suffered significant losses in the crypto market crash in mid-2022, causing 3AC to begin liquidation proceedings in the British Virgin Islands, Singapore, and the United States.