Singapore 'confirms arrest' of crypto fund founder
Singapore police appeared to confirm the arrest of Su Zhu, one of the founders of bankrupt crypto hedge fund Three Arrows Capital. Last week, the company's liquidators, Teneo, said that Zhu had been "apprehended" on September 29 at Changi Airport in Singapore. Responding to Reuters enquiries about the report, Singapore police confirmed on Thursday the arrest of a "36-year-old man" on September 29. Police did not identify the arrested man or elaborate in the response to Reuters. Three Arrows Capital was one of the first high-profile cryptocurrency firms to collapse in 2022, filing for bankruptcy after being hit by a sharp sell-off in crypto markets. Zhu is facing four months in prison under an arrest order after he did not cooperate with investigations into Three Arrows Capital, according to Teneo and a document seen by Reuters. A law firm representing Zhu and representatives for Three Arrows co-founder Kyle Davies did not immediately respond to requests for comment. In a November 2022 interview, Davies pushed back on claims from Teneo that he and Zhu were not cooperating with the liquidation process. "We've been cooperating the whole way," Davies told CNBC. (Reuters)