<p><img src="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=840/https://s3.cointelegraph.com/uploads/2023-07/0c2039ac-086c-452d-96d7-d20797aad856.jpg"></p><p>Three Arrows Capital co-founder Kyle Davies called it a “shadow recovery process” during a July 3 Twitter Spaces.</p>