Sanjian Capital Co-founder Denies Pending Litigation or Regulatory Action

03/14/2023 18:55 • Metaverse Matters • 135 views

According to reports, Kyle Davies, the co-founder of Sanjian Capital, a closed hedge fund, said that there was no pending litigation or regulatory action against him. Last July, Sanjian Capital filed for bankruptcy. In October this year, the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) launched an investigation on Sanjian Capital because it misled investors in the balance sheet. In December last year, it was reported that the liabilities of Sanjian Capital exceeded US $3 billion, while the assets were only US $1 billion. Davies said that people’s anger stems from the market decline. As far as we are concerned, there are no regulatory actions and lawsuits against us anywhere. According to the previous news, Su Zhu and Kyle Davies, the founders of Sanjian Capital, recently launched Open Exchange (OPNX), a platform that allows users to trade bankruptcy claims and use claims as collateral to trade encrypted derivatives. （CoinDesk）

Kyle Davies, co-founder of Sanjian Capital: no pending litigation or regulatory action against him

Analysis based on this information:

The co-founder of Sanjian Capital, Kyle Davies, has denied that there is any pending litigation or regulatory action against him or the company. Sanjian Capital filed for bankruptcy last July, and it was reported in December of that year that the company’s liabilities exceeded assets by $2 billion. Despite this, Davies insists that people’s anger towards him and the company stems from the market decline rather than any wrongdoing.

However, the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) launched an investigation into Sanjian Capital in October of this year. The investigation was launched because the company misled investors in its balance sheet. While Davies may believe that there are no regulatory actions or lawsuits against him, it is clear that the SEC and CFTC are still investigating the company’s practices.

It is interesting to note that despite the allegations against Sanjian Capital, Davies and fellow co-founder Su Zhu recently launched Open Exchange (OPNX). This platform allows users to trade bankruptcy claims and use them as collateral to trade encrypted derivatives. This new venture raises questions about the legitimacy of Sanjian Capital’s past practices.

Overall, it seems that despite Davies’ denial of wrongdoing, there are serious allegations against Sanjian Capital. The SEC and CFTC investigation into the company’s practices suggests that there may be more to the story than what Davies is saying. The launch of Open Exchange also adds another layer of suspicion to Sanjian Capital’s past practices. It will be interesting to see how this story develops and whether Davies’ claims of innocence hold up in the face of regulatory scrutiny.

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Sanjian Capital Co-founder Denies Pending Litigation or Regulatory Action

Kyle Davies, co-founder of Sanjian Capital: no pending litigation or regulatory action against him

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