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3AC’s Su Zhu Suddenly Speaks Out Amid FTX’s Crisis

Foxy - Coincu
2022-11-09 04:38
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The founder of Three Arrows Capital (3AC), Su Zhu suddenly spoke out amid the exploding liquidity crisis with FTX. After days of silence since the crypto hedge fund went bust, the founder of 3AC thanked the community for the support and wished peace to those who failed with 3AC.
On November 9, while FTX’s liquidity crisis was in full swing, suddenly a majestic line came from Su Zhu, the long-lost co-founder of the bankrupt crypto hedge fund Three Arrows Capital (3AC).
There I was, surfing the wave of waves, next moment wiped out, board broken, rocks reefs everywhereThe sudden pain of business failure and loss of purpose, as a golden child of the industry + biz cycle more broadly, was as difficult as the ensuing ostracization and demonization
— Zhu Su (@zhusu) November 9, 2022
This comeback, he only shared about his current quiet life and thanked the community for their support and sympathy. Besides that, he also shared his feelings and panic about being the target of some in the crypto community.
To those who attacked us and tried to make us a scapegoat for the entire industry, I know such vitriol itself comes from pain and misdirection, you mustve been suffering deeply and looking for that catharsis, some reliefI wish peace be upon you
— Zhu Su (@zhusu) November 9, 2022
Meanwhile Alameda Research is also said to have come to the brink of collapse like Three Arrows Capital and others in the second quarter of this year. It survives using 17.2 million FTTs guaranteed to issue after 4 months as collateral.
5/ Here's what I think happened:– Alameda blew up in Q2 along with 3AC+ others.– It ONLY survived because it was able to secure funding from FTX using as "collateral" the 172M FTT that was guaranteed to vest 4 months later.Once vested, all tokens were sent back as repayment.
— Lucas Nuzzi (@LucasNuzzi) November 8, 2022
At the end of his sharing, Su Zhu was confused when he didn’t know what to choose between a quiet life or wanting to rebuild with new plans.
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