Three Arrows Capital Founders Are On The Run Because Of Life Threats
In an interview, the two founders of Three Arrows Capital expressed regret that the fund had to face such a bad situation as it is now. Besides, they also shared that their lives are being threatened by people who are “crazy in crypto”.
Sharing of the two founders of Three Arrows Capital
Three Arrows Capital had positioned itself for a market that “didn’t end up happening” and “the whole situation is regrettable,” co-founders Zhu Su and Kyle Davies told Bloomberg in an interview published today. They also revealed that they are on their way to Dubai
“The whole situation is regrettable,(…). Many people lost a lot of money.”Davies told Bloomberg
“We positioned ourselves for a kind of market that didn’t end up happening.”Su Zhu added
3AC had grown to manage billions of dollars as one of the highest profile hedge funds in crypto, before imploding following May’s collapse of the Terra ecosystem and its related luna token. The fund filed for bankruptcy earlier this month. Court documents published on Monday by 3AC’s liquidators — and later deleted – show that 3AC owed 27 crypto companies $3.5 billion.
The founders explained in the interview how bets on Luna, the Grayscale Bitcoin Trust and staked ether all went sour.
“What we failed to realize was that luna was capable of falling to effective zero in a matter of days,”Su Zhu said
The pair declined to give their location but said they say were en route to Dubai, from where they hope to manage 3AC’s liquidation.
“For Kyle and I, there’s so many crazy people in crypto that kind of made death threats or all this kind of noise,(…). We feel that it’s just the interest for everyone if we can be physically secured and keep a low profile.”Su Zhu shared
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