Bali

Sources: Three Arrows Capital co-founder Kyle Davies spotted in Bali

ChainCatcher news, according to Cointelegraph, Three Arrows Capital co-founder Kyle Davies has been spotted in Bali, continuing to evade authorities regarding the allegations of Three Arrows Capital's collapse. Davies became embroiled in bankruptcy proceedings after the firm’s collapse in 2022, and he was sentenced to four months in prison in Singapore for failing to cooperate with an investigation into his bankruptcy.An anonymous source provided photos showing Davies at the Milk and Madu café in Canggu, Bali, with an unidentified woman on November 8. Additionally, other sources involved in the ongoing bankruptcy proceedings in Singapore confirmed that Kyle Davies is residing in Indonesia. These unpublished images bear a striking resemblance to several photos Davies has posted online over the past two years. Witnesses stated that Davies appeared to be "doing well and happy," with the provided images showing him wearing his signature pink crewneck shirt and sunglasses.Sources from the media indicated that Davies's detention depends on the cooperation of the Bali authorities. After marrying a Singaporean citizen and obtaining citizenship in that country in 2022, Davies renounced his U.S. citizenship and has since successfully evaded U.S. contempt charges related to his bankruptcy case.U.S. Bankruptcy Judge Martin Glenn in the Southern District of New York ruled that the court could not "exercise jurisdiction over Mr. Davies" after Davies's legal representatives submitted evidence proving he is no longer a U.S. citizen. The judge suggested that foreign representatives might consider compelling Davies to comply through the Singapore courts.

LIF partner Nicole: Currently, most 2C projects are unable to attract new users, and various ecosystems are just "cannibalizing" each other

ChainCatcher news, the second session of the "Zhen" series event hosted by ChainCatcher and RootData was held today in Hong Kong. In this session, ChainCatcher invited several industry builders and investors to discuss the theme of "New Cycle and New Narrative." Nicole Zhang, a partner at the crypto venture fund LIF, delivered a speech titled "Breaking the Web3.0 Cannibalism."Nicole introduced that LIF invests in the "ABC" narrative, where "A" stands for Access. LIF believes that wallets, Layer 1/2, and mobile phones cannot be considered true Web 3.0 entry points; the real entry point should be middleware in the form of Dapps, APIs, and SDKs that provide users with frictionless, low-threshold access, as well as convenient payment gateways. "B" stands for Better Blockchain, indicating the urgent need for decentralized storage, oracle, AI, and other infrastructure to improve underlying performance. "C" stands for Content, where LIF believes that relying solely on DeFi is insufficient to support the crypto industry; Web 3.0 needs content like games, music, videos, and images to attract and retain users.In addition, Nicole pointed out that most 2C projects currently fail to truly attract new users to use Web 3.0. For example, the rise of StepN is essentially a competition for users from the Axie Infinity community, and this kind of "mutual cannibalism" is also common in other industry ecosystems. Web 3.0 needs new users to achieve healthier growth. To address this, Nicole suggested that project teams should build communities from scratch, avoid shortcuts, use real data to analyze and interact with the community, and launch tokens that can expand the user base.
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