Su Zhu Says 3AC Is "Dedicated 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 group.

We’re within the means of speaking with related events and absolutely 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 searching for an answer to a difficulty it was going through. “We’re within the means of speaking with related events and absolutely dedicated to working this out,” Zhu wrote, prompting a flurry of supportive messages from the likes of Cobie, Byzantine Common, satsdart, and different members of the crypto group.

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 might have missed a margin name and skilled a liquidation occasion because of the current 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 likely 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 identified for its prescient buying and selling calls, propelling Zhu and his longtime accomplice, Kyle Davies, to crypto superstar standing.

All through 2021, Three Arrows Capital turned infamous for pushing the so-called “supercycle” thesis and endorsing different Layer 1 tasks 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%. Apparently, Zhu lately eliminated a lot 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 probably be up to date as additional particulars emerge.

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

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