3AC’s Su Zhu Considering Establishing A New Trading Entity
Su Zhu shared in an interview that the collapse of FTX could set the industry back seven or eight years or even longer. He also said he is hatching the idea of setting up a new trading entity.
According to the co-founder of Three Arrows Capital, a string of severe crypto crises could set the industry back for almost a decade. If the underlying problem is not solved and maybe even longer.
“Some industry experts think the FTX crash will drag the market back five years. I think that number will be much larger – it will be 7-8 years – even longer if the core issues remain unresolved.”
The 3AC co-founder also said he is hatching the idea of creating a new trading entity, perhaps an all-weather fund that invests in both cryptocurrencies and traditional assets.
During the past 2 weeks, the two founders of Three Arrows Capital, Su Zhu and Kyle Davies, suddenly reappeared on social media after a long time in hiding when their fund defaulted.
Since FTX and Alameda had liquidity problems and collapsed in just 7 days in mid-November, Su Zhu and Kyle Davies have issued new statements, claiming to have known the flaws in the FTX-Alameda model as far back as 2019 but still working with Sam Bankman-Fried companies.
Besides, the two founders used a new story, that they “played bad” when FTX sent transaction information to Alameda, from which the fund set up reverse trading orders to strangle 3AC.
Today, according to news provided by FTX from PRNewswire, the United States Bankruptcy Court for the District of Delaware (the “Delaware Federal Court“) has granted interim and final approvals for all of the “First Day” motions related to the FTX Debtors‘ Chapter 11 petitions filed on November 11, 2022, according to an announcement released by FTX Trading Ltd. (d.b.a. FTX.com) and approximately 101 additional affiliated companies.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
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3AC’s Su Zhu Considering Establishing A New Trading Entity
Su Zhu shared in an interview that the collapse of FTX could set the industry back seven or eight years or even longer. He also said he is hatching the idea of setting up a new trading entity.
According to the co-founder of Three Arrows Capital, a string of severe crypto crises could set the industry back for almost a decade. If the underlying problem is not solved and maybe even longer.
“Some industry experts think the FTX crash will drag the market back five years. I think that number will be much larger – it will be 7-8 years – even longer if the core issues remain unresolved.”
The 3AC co-founder also said he is hatching the idea of creating a new trading entity, perhaps an all-weather fund that invests in both cryptocurrencies and traditional assets.
During the past 2 weeks, the two founders of Three Arrows Capital, Su Zhu and Kyle Davies, suddenly reappeared on social media after a long time in hiding when their fund defaulted.
Since FTX and Alameda had liquidity problems and collapsed in just 7 days in mid-November, Su Zhu and Kyle Davies have issued new statements, claiming to have known the flaws in the FTX-Alameda model as far back as 2019 but still working with Sam Bankman-Fried companies.
Besides, the two founders used a new story, that they “played bad” when FTX sent transaction information to Alameda, from which the fund set up reverse trading orders to strangle 3AC.
Today, according to news provided by FTX from PRNewswire, the United States Bankruptcy Court for the District of Delaware (the “Delaware Federal Court“) has granted interim and final approvals for all of the “First Day” motions related to the FTX Debtors‘ Chapter 11 petitions filed on November 11, 2022, according to an announcement released by FTX Trading Ltd. (d.b.a. FTX.com) and approximately 101 additional affiliated companies.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
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