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Three Arrow Capital's Zhu, Davies Subpoenaed in US Bankruptcy Case
A New York court wants information about the collapsed crypto hedge fund’s founders and investment managers.
Updated Dec 7, 2022, 11:12 p.m. Published Dec 7, 2022, 11:52 a.m.
A New York bankruptcy judge has agreed to issue subpoenas against the founders of Three Arrows Capital as liquidators seek to wind down the collapsed crypto fund.
“The foreign representatives and their agents are authorized to serve subpoenas for the production of documents and testimony upon the founders, the investment managers and anyone else that might have information about Three Arrows’ affairs," U.S. Bankruptcy Judge Martin Glenn for the Southern District of New York wrote in a court document published on Tuesday.
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The document names founders Su Zhu and Kyle Davies, as well as a number of other apparently related individuals and companies, including Starry Night Capital, the hedge fund’s non-fungible token (NFT) arm.
Liquidators for Three Arrows Capital have berated the founders for failing to cooperate with the bankruptcy probe, but last week confirmed they had seized $35.6 million from Singaporean bank accounts.
Lawyers for Zhu and Davies couldn't immediately be reached for comment.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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