News Formal

Kyle Davies to donate future OPNX earnings to 3AC creditors for 'karma'

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 51%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

Three Arrows Capital co-founder KyleLDavies has cited “good karma' as the reason he and zhusu will donate future earnings from opnx_official to make 3AC creditors whole.

Touting the process as the “first” of its kind, Davies claimed it would allow himself and Su to donate funds to 3AC creditors, but only if they were “early and supporting” of OPNX.

He claimed there are already a “number of creditors” that have been made whole. “If there are some that don’t want to deal with us, then they don’t have to,” he added. “We very much believe that if we do good and we say to creditors who lost money, they have a way to make more back. If we do bad and they do well, then that's great. And that's good karma, or whatever you want to call it."

When pressed on how he could be working on a new venture while his now-bankrupt hedge fund was still in the midst of a liquidation process, Davies claimed that creditors only stand to “benefit” from the new company.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Kyle Davies evokes karma, says he'll donate some OPNX earnings to 3AC creditorsDavies, in a lengthy Twitter Spaces event on Monday, said he'd use the new OPNX crypto trading platform to 'donate' funds back to 3AC creditors.
Source: TheBlock__ - 🏆 464. / 53 Read more »