Three Arrows buys 156K ETH in the weeks after CEO 'abandoned ETH'
Only a few weeks ago, CEO Zhu Su was blasting ETH on Twitter for high gas fees and accessibility issues. Now, his company is buying the dip. Crypto hedge fund Three Arrows Capital (3AC) has bought more than half a billion dollars worth of Ether in the time since CEO Zhu Su publicly slammed the cryptocurrency on Twitter. Do the purchases mean he's changed his mind, or was he just taking advantage of a market crash to buy the dip?In an anti-ETH tirade between Nov. 20 and Nov. 22, Zhu tweeted about why he had “abandoned Ethereum despite supporting it in the past.” The thread came in response....
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Ethereum which is the second-largest cryptocurrency project in the globe has enjoyed the support of major and big-time investors in recent years. Its growth over the last year has helped to further reinforce why investors tend to choose the altcoin over Bitcoin. One of those who have supported Ethereum openly and majorly in the past has been Su Zhu, CEO, and CIO of Three Arrows Capital, a Singapore-based fund management firm. Zhu who has supported Ethereum for a while recently announced that he was leaving the digital asset behind. This came as a shock but Zhu’s reasons for making this....
Zhu Su backtracked after the initial scathing comments, saying that he “loves Ethereum and what it stands for.” CEO and founder of hedge fund Three Arrows Capital (3AC) Zhu Su tweeted that he has “abandoned Ethereum despite supporting it in the past,” before making a U-turn on the statement. In the Nov. 21 thread, Su claimed that Ethereum culture “suffers massively from the Founders’ Dilemma,” and that “everyone is already far too rich to remember what they originally set out to do.” Yes I have abandoned Ethereum despite supporting it in the past. Yes Ethereum has abandoned its users....
The Durov brothers fought a long and exhaustive battle with the United States Securities and Exchange Commission (SEC) over the Telegram Open Network (TON)’s acceptance in the United States, which ended with an official announcement that the further development of the project was abandoned. However, the TON project was fully open-source. Using the TON repositories a group of independent enthusiasts came together, forked the best that has been built by the original Telegram team and ventured into a long journey of building Free TON. The Free TON Community Similar to many other PoS....
Bored Ape Yacht Club and CryptoPunks NFTs are two of the options supported as collateral for crypto credit lines on the platform. Nexo, the crypto borrowing and exchange platform, has launched an NFT Lending Desk in partnership with NFT hedge fund Three Arrows Capital. The new lending desk caters to over-the-counter, or OTC, clients to offer crypto credit backed by NFTs. Nexo is one of the first crypto lenders to allow customers to borrow stablecoins, ETH, and other cryptocurrencies using certain NFTs as collateral. The company stated that in its initial iteration, the service will accept....
Three Arrows Capital CEO Su Zhu is bullish on Dogecoin because it's easy to understand and captures the attention of “blue-collar traders.” Three Arrows Capital CEO Su Zhu has outlined a bullish thesis for Elon Musk’s favorite cryptocurrency, Dogecoin (DOGE). Speaking on an Aug. 25 episode of “The Game Theory of Crypto Podcast”, Zhu stated that he’s ke on DOGE because the meme coin has captured more interest from “blue-collar” traders than any other crypto on the market.During the interview, Zhu pointed towards data from popular retail trading app Robinhood, which posted its second-quarter....