Their crypto business collapsed. They went to Bali.

Mr. Zhu said he was toning down the criticism. On Twitter, he responded to a negative article in The Wall Street Journal quote John F. Kennedy: “We’re choosing to go to the moon in this decade and do the other things, not because they’re easy, but because they’re hard.”

“I’ve already created 75 jobs,” he said at a dinner party in Singapore. “At least these people like me.”

This month, Open Exchange unveiled its own cryptocurrency, called OX, just like the animal. The price shot up in a few days. “I’m getting the early 3AC vibes again,” Mr. Davies on Twitter Tuesday. “Nothing compares to the energy of a startup.”

Privately, Mr. Davies has encouraged Three Arrows creditors to trade their bankruptcy claims on Open Exchange. In January he has invited creditors to an “ad hoc 3AC creditors’ meeting”. But during the conversation, Mr. Davies spoke all the way, according to two people familiar with the matter; he ended the session just as someone tried to ask a question.

Last month in Barcelona, ​​Mr. Davies relaxed and spoke enthusiastically of the ‘great cafes’ on Las Ramblas, a busy thoroughfare that cuts through the heart of the city. One Saturday night, he ate a late dinner at Els Pescadors, a seafood restaurant near the beach, where he ordered oysters, croquettes, local wine, and three rounds of whiskey.

By the end of the meal, Mr. Davies was hatching business ideas. In Dubai, he said, he has been inquiring about opening a chicken restaurant, possibly in the form of a cloud kitchen, without a storefront. For a while, he and Mr. Zhu considered making a movie about Do Kwon and Luna’s collapse. “Our idea was actually that we would do an empathy piece,” he said. “We had a whole team that would produce it at Sundance or whatever.”