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A twilight-lit scene, evoking sensations of uncertainty yet hopeful redemption. In the foreground, a symbolic figure stands resiliently, co-founder Kyle Davies, holding an olive branch, beacon of promised future earnings emerging subtly from it, indicating a 'shadow recovery process'. Behind him, a group of skeptical persons, embodying the distrustful creditors. The background depicts an evolving landscape; a collapsing structure symbolizing Three Arrows Capital's fall, a court house representing ongoing liquidations, and a new structure rising from the sands of a beach, hinting at the OPNX platform. Cast over by a contrasting sky, half cloudy, hinting at past turmoil, and half clear, indicating hopeful future. The mood is tense yet optimistic, styled in a lightly brushed impressionistic manner.

From Bankruptcy to Redemption: The Controversial Shadow Recovery of Three Arrows Capital

Kyle Davies, co-founder of the collapsed Three Arrows Capital (3AC), has promised creditors “future earnings” via a “shadow recovery process”, stirring skepticism among creditors and crypto community. Davies and his partner launched Open Exchange (OPNX), a platform designed to trade bankruptcy claims, despite the ongoing liquidation proceedings of their previous company. The effectiveness and trustworthiness of this new venture remain questionable.