The founders of the now-defunct crypto hedge fund Three Arrows Capital (3AC) are talking out after months of silence within the wake of the agency’s chapter.
3AC founders Kyle Davies and Zhu Su have each taken to Twitter to talk on the latest collapse of crypto alternate FTX and its buying and selling arm Alameda Analysis, saying that the corporations had been additionally concerned with triggering 3AC’s chapter.
Says Davies,
“I ran a hedge fund Three Arrows (aka 3AC) with Su for over a decade, 7 to 10 figures natural. Since 2018 we had been all in on crypto.
In Might 2022, Luna exploded and the aftermath of correlated positions/spreads/investments all transferring towards received us.
We perceive now that FTX/Alameda hunted our positions however on the finish of the day we misplaced our cash (we had been the biggest $ losers) and that of LP’s (liquidity suppliers)/collectors. Right this moment we aren’t in charge of the agency, there’s a liquidation course of which can run due course for all concerned.”
Responding to what purport to be screenshots of a Telegram chat with Alameda, Zhu Su says that Three Arrows Capital was wronged ultimately, however didn’t go into particulars.
“It’s an extended story however we had been scammed identical to you guys, it’s okay – justice is coming”
Regardless of any claims towards FTX or Alameda, each Davies and Zhu have each stated that they maybe may have spent extra time learning the mechanics of LUNA and UST earlier than investing in it.
“Luna/UST was unprecedented and we fully tousled the thesis round it. We had been attracted by the standard of backers/builders/group and didn’t spend sufficient time on the mechanics.”
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Featured Picture: Shutterstock/NextMarsMedia
