crypto trading platform he co-founded with Mark Lamb to"donate" funds back to 3AC creditors, if they get in early.
"We've set up the first ever shadow recovery process," Davies explained."This SRP is a way for Su and I to donate to creditors which are early and supporting. If there are some that don’t want to deal with us, then they don’t have to." "And also this is entirely separate from the liquidation," he added."Teneo is the liquidator. They will sell the firm’s assets and distribute it to creditors separately. But we have a number of creditors who were early that are whole or more already. And we have this process where we will donate over time. Again, entirely voluntary. This is something that we want to do. And it’s only for people who wanted to participate. If they don’t want to, they don’t have to.
"No no no," Davis insisted."Su and I are donating future earnings to this process. There's no token here.""No, not at all. There's no token here." Davies said."When thinking about life philosophies with Mark and Su, one of the things we really believe in is karma and something greater than all of us. For some people, that can be religion, philosophy, but we have this in common that there's something greater.