• Founder of Three Arrows Capital shares plans for a shadow recovery process.
• The process will donate the future earnings of OPNX to the creditors.
• Kyle Davies says that he believes in karma, and also shares his expectation of witnessing around $50 million in daily trading volume for OPNX.

In one of the most recent updates given by Three Arrows Capital (3AC) founders, the bankrupt crypto hedge fund has shared plans to donate the future earnings from their newly launched exchange to creditors. Kyle Davies, who is one of the founders, spoke about the initiative for the creditors who lost money in a Twitter space. The 2.3-hour-long Twitter space was hosted by Mario Nawfal, who is the CEO of IBC Group.

Davies defined the idea as a “shadow recovery process,” independent from the actual liquidation process, which tries to recover money from the bankrupt corporation and distribute it to whoever it is owed. He also stated that several debtors had already been fully reimbursed. Davies claimed that he and his fellow founders believed in “karma” and that these additional payments would be added to any money that was eventually recovered through the court system.

One o…

The post Three Arrows Capital Founders Unveil a Shadow Recovery Process appeared first on Coin Edition.

• Founder of Three Arrows Capital shares plans for a shadow recovery process.
• The process will donate the future earnings of OPNX to the creditors.
• Kyle Davies says that he believes in karma, and also shares his expectation of witnessing around $50 million in daily trading volume for OPNX.

In one of the most recent updates given by Three Arrows Capital (3AC) founders, the bankrupt crypto hedge fund has shared plans to donate the future earnings from their newly launched exchange to creditors. Kyle Davies, who is one of the founders, spoke about the initiative for the creditors who lost money in a Twitter space. The 2.3-hour-long Twitter space was hosted by Mario Nawfal, who is the CEO of IBC Group.

Davies defined the idea as a “shadow recovery process,” independent from the actual liquidation process, which tries to recover money from the bankrupt corporation and distribute it to whoever it is owed. He also stated that several debtors had already been fully reimbursed. Davies claimed that he and his fellow founders believed in “karma” and that these additional payments would be added to any money that was eventually recovered through the court system.

One o…

The post Three Arrows Capital Founders Unveil a Shadow Recovery Process appeared first on Coin Edition.