Three Arrows Capital, a popular crypto hedge fund, has just announced it intends to move its headquarters from Singapore to Dubai, Bloomberg has reported.
The information about the possible move has been confirmed by the company's co-founder Su Zhu. He has said:
"The energy in Dubai's digital asset industry is electric right now. We have decided to move our Three Arrows headquarters to Dubai and I’m looking forward to meeting more technology startups."
It is worth noting that the company is also setting up the first fund to raise capital from external investors. Three Arrows was founded back in 2012 by Zhu and Kyle Davies to invest in high-risk assets.
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According to the company's website, the hedge fund owns stakes in cryptocurrency projects BlockFi, Deribit and Fireblocks as well as assets in Bitcoin, Ethereum, Polkadot, Solana and others.
In addition, the company has funded a number of DeFi projects, including Aave, Balancer and Trader Joe.
The Dubai authorities passed in March a law on virtual assets and established a regulatory body.