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News

Su Zhu Is Criticized By The Community For His Claims Against DCG – Jan 03,2023

January 3, 2023 - Around 3 mins mins to read

Key Points:

  • Su Zhu, the founder of Three Arrows Capital (3AC), posted a thread on Twitter accusing the Digital Currency Group (DCG) and FTX of having liquidity problems.
  • Zhu was also criticized on Twitter by Daily Gwei anchor and Ether bull Anthony Sassano. Sassano used irony when he claimed that everyone was responsible for the 3AC failure aside from Zhu and co-founder Kyle Davis.
  • Lawyers for liquidators have said that despite agreeing on a communications protocol, the 3AC founders have neglected communicating with liquidators in recent months.
Su Zhu, the founder of Three Arrows Capital (3AC), posted a thread on Twitter accusing the Digital Currency Group (DCG) and FTX of having liquidity problems. The founder, however, was instantly criticized by the cryptocurrency community for assigning blame and refusing to accept responsibility.
Su Zhu Is Criticized By The Community For His Claims Against DCG

Zhu said in the post that DCG was responsible for LUNA’s demise, now known as Terra Classic (LUNC). Zhu asserted that the venture capital business and the FTX exchange planned an attack on LUNC to profit from it. The 3AC founder added that DCG “magically filled the vacuum” rather than reorganizing from losses brought on by the 3AC bankruptcy.

Despite Zhu’s attempts to malign DCG and FTX, the community thinks he needs to concentrate on his situation.

Zhu was also criticized on Twitter by Daily Gwei anchor and Ether bull Anthony Sassano. Sassano used irony when he claimed that everyone was responsible for the 3AC failure aside from Zhu and co-founder Kyle Davis. They were just forced to be on the wrong side of highly profitable trading tactics, he said, and are completely innocent parties.

As its founders may be based in Indonesia and the United Arab Emirates, where it may be challenging to implement court judgments, the 3AC bankruptcy process is currently facing challenges. Lawyers for liquidators have said that despite agreeing on a communications protocol, the 3AC founders have neglected communicating with liquidators in recent months.

The legal team for the liquidators criticized the 3AC founders on December 2 for speaking to the press and being active on social media while ignoring them. The legal team asserted that the founders regularly switched between several jurisdictions and only had brief conversations with liquidators.

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

Annie

Coincu News

3AC Founders

DCG

FTX

Su Zhu

Three Arrows Capital

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Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
News

Su Zhu Is Criticized By The Community For His Claims Against DCG – Jan 03,2023

Key Points:

  • Su Zhu, the founder of Three Arrows Capital (3AC), posted a thread on Twitter accusing the Digital Currency Group (DCG) and FTX of having liquidity problems.
  • Zhu was also criticized on Twitter by Daily Gwei anchor and Ether bull Anthony Sassano. Sassano used irony when he claimed that everyone was responsible for the 3AC failure aside from Zhu and co-founder Kyle Davis.
  • Lawyers for liquidators have said that despite agreeing on a communications protocol, the 3AC founders have neglected communicating with liquidators in recent months.
Su Zhu, the founder of Three Arrows Capital (3AC), posted a thread on Twitter accusing the Digital Currency Group (DCG) and FTX of having liquidity problems. The founder, however, was instantly criticized by the cryptocurrency community for assigning blame and refusing to accept responsibility.
Su Zhu Is Criticized By The Community For His Claims Against DCG

Zhu said in the post that DCG was responsible for LUNA’s demise, now known as Terra Classic (LUNC). Zhu asserted that the venture capital business and the FTX exchange planned an attack on LUNC to profit from it. The 3AC founder added that DCG “magically filled the vacuum” rather than reorganizing from losses brought on by the 3AC bankruptcy.

Despite Zhu’s attempts to malign DCG and FTX, the community thinks he needs to concentrate on his situation.

Zhu was also criticized on Twitter by Daily Gwei anchor and Ether bull Anthony Sassano. Sassano used irony when he claimed that everyone was responsible for the 3AC failure aside from Zhu and co-founder Kyle Davis. They were just forced to be on the wrong side of highly profitable trading tactics, he said, and are completely innocent parties.

As its founders may be based in Indonesia and the United Arab Emirates, where it may be challenging to implement court judgments, the 3AC bankruptcy process is currently facing challenges. Lawyers for liquidators have said that despite agreeing on a communications protocol, the 3AC founders have neglected communicating with liquidators in recent months.

The legal team for the liquidators criticized the 3AC founders on December 2 for speaking to the press and being active on social media while ignoring them. The legal team asserted that the founders regularly switched between several jurisdictions and only had brief conversations with liquidators.

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

Annie

Coincu News