Su Zhu Says 3AC Is "Committed to Working This Out" as Wipeout Rumors Rage

Su Zhu Says 3AC Is “Committed to Working This Out” as Wipeout Rumors Rage

Su Zhu and Kyle Davies’ Three Arrows Capital is certainly one of crypto’s most revered hedge funds.

Su Zhu Speaks Out

Three Arrows Capital co-founder Su Zhu has damaged his silence after rumors that the agency could also be going through liquidity points have unfold throughout the crypto neighborhood.

We’re within the strategy of speaking with related events and totally dedicated to working this out

— Zhu Su 🔺 (@zhusu) June 15, 2022

The favored dealer posted a cryptic tweet early Wednesday hinting that Three Arrows Capital was in search of an answer to a difficulty it was going through. “We’re within the strategy of speaking with related events and totally dedicated to working this out,” Zhu wrote, prompting a flurry of supportive messages from the likes of Cobie, Byzantine Basic, satsdart, and different members of the crypto neighborhood.

Rumors of the agency’s attainable points first surfaced on Crypto Twitter early Tuesday and unfold over the course of the day. Unconfirmed studies declare that the agency could have missed a margin name and skilled a liquidation occasion because of the latest meltdown within the crypto market. The rumors got here solely hours after Celsius halted buyer withdrawals because it confronted what’s broadly believed to be its personal liquidity disaster.

Three Arrows Capital is without doubt one of the world’s most profitable crypto hedge funds. After launching in 2012, it grew right into a multi-billion greenback institution that turned recognized for its prescient buying and selling calls, propelling Zhu and his longtime associate, Kyle Davies, to crypto celeb standing.

All through 2021, Three Arrows Capital turned infamous for pushing the so-called “supercycle” thesis and endorsing different Layer 1 initiatives like Solana, Avalanche, and Terra forward of their parabolic rallies. Since then, Terra has crashed to zero and Solana and Avalanche are each down about 86%. Curiously, Zhu lately eliminated plenty of references to Solana, Avalanche, Terra, Ethereum, and NEAR from his Twitter bio and has additionally deleted his Instagram account.

Three Arrows Capital has not but revealed an official assertion in response to the rumors, and neither Zhu nor Davies had responded to Crypto Briefing’s request for remark by press time.

This story is breaking and will likely be up to date as additional particulars emerge.

Disclosure: On the time of writing, the writer of this piece owned ETH, NEAR, and several other different cryptocurrencies.

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