Singaporean financial authority MAS issued the ban, effective immediately.
Following the collapse of Three Arrows Capital, co-founders Zhu Su and Kyle Davies dropped off the map.on X to make oblivious and out-of-place posts excusing them of any wrongdoing and to announce the launch of their new business ventures, namely the exchange platform OPNX and a new hedge fund named 3AC Ventures.OPNX, which is headquartered in Dubai, has since been fined by local financial authority VARA.issued to OPNX by mid-August, and there is no indication that they have done so yet.
Although 3AC was long suspected of simply making risky financial decisions, it turns out that – according to the Monetary Authority of Singapore – no risk management framework was set in place at the company at all. Further offenses mentioned in the MAS’ press release are the failure to notify and the subsequent provision of false information regarding a hedge fund manager named Cheong Jun Yoon Arthur.
The MAS determined this information to be false and indicated that Arthur had indeed been a fund manager at 3AC.
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