3AC Founders
Managed $10 billion. Got liquidated. Fled on a yacht. Got caught.
Known For
Ran Three Arrows Capital, the hedge fund whose collapse linked Terra to FTX in the domino chain
Su Zhu and Kyle Davies co-founded Three Arrows Capital (3AC), a crypto hedge fund that at its peak managed an estimated $10 billion in assets. They were the loudest bulls in the room, with Su Zhu famously calling for a "supercycle" where crypto would only go up. When Terra/LUNA collapsed in May 2022, 3AC was heavily exposed and couldn't meet margin calls. The fund collapsed virtually overnight, taking down lenders like Voyager and BlockFi who had extended them massive credit lines. Rather than face their creditors, Su Zhu and Kyle Davies fled — reportedly attempting to escape on a yacht. Su Zhu was eventually arrested in Singapore in September 2023 trying to leave the country and served prison time. Their collapse was the critical middle domino between Terra's death spiral and FTX's implosion, making 3AC one of the most consequential failures in crypto history.
