Kyle Davies Continues Risky Crypto Bets on XSam Bankman-Fried’s FTX Amid 3AC Fallout

The saga of Kyle Davies and Su Zhu continues to unfold in the world of cryptocurrency, with Davies still at large and posting his risky bets on X despite the massive fallout from the collapse of their hedge fund, Three Arrows Capital (3AC). The duo, who are facing billions in creditors’ claims, have not faced consequences for their alleged role in erasing billions in value for investors.

Davies’ recent post on X, where he bragged about outperforming Zhu in trading despite both being in the red, has drawn criticism and mockery from the crypto community. Many have pointed out the irony of Davies’ tone-deaf behavior, especially considering his refusal to apologize or turn himself in to authorities.

The situation took an interesting turn when Sam Bankman-Fried, the founder of FTX, was mentioned in the replies to Davies’ post. Bankman-Fried, who was recently sentenced to 25 years in prison for stealing billions from customers, became a topic of discussion in relation to Davies’ actions.

Despite the fallout from 3AC and the subsequent bankruptcies of other crypto ventures like Voyager and FTX, Davies and Zhu have not shied away from the spotlight. Their latest venture, OPNX, a bankruptcy claims exchange, shut down in February, adding another chapter to their tumultuous story.

As the crypto market continues to fluctuate, with Bitcoin reaching new highs in early 2024, the whereabouts of Davies remain unknown. The ongoing saga of Davies and Zhu serves as a cautionary tale in the world of cryptocurrency, highlighting the risks and consequences of unchecked behavior in the industry.