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Su Zhu and Kyle Davies’ Three Arrows Capital is considered 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 corporate could also be going through liquidity issues unfold within the crypto group.
We’re within the means of speaking with the related events and are absolutely dedicated to working this out
— Zhu Su 🔺 (@zhusu) June 15, 2022
The favored dealer posted a cryptic tweet early Wednesday that implied that Three Arrows Capital was on the lookout for an answer to a difficulty it was going through. “We’re within the means of speaking with related events and are absolutely dedicated to clarifying this,” Zhu wrote, sparking a flood of supportive messages from the likes of Cobie, Byzantine Normal, Satsdart, and different members of the crypto group.
Rumors of potential troubles for the corporate first surfaced on Crypto Twitter early Tuesday and unfold all through the day. In line with unconfirmed stories, the corporate might have missed a margin name and skilled a liquidation occasion as a result of latest crypto market meltdown. The rumors got here simply hours after Celsius halted buyer withdrawals because it confronted its personal liquidity disaster.
Three Arrows Capital is among the most profitable crypto hedge funds on the earth. After launching in 2012, it grew right into a multi-billion greenback firm that grew to become identified for its forward-thinking buying and selling calls, bringing crypto celeb standing to Zhu and his longtime accomplice Kyle Davies.
All through 2021, Three Arrows Capital has turn out to be infamous for pushing the so-called “supercycle” thesis, backing various layer 1 tasks like Solana, Avalanche, and Terra forward of their parabolic rallies. Since then, Terra has plummeted to zero, and Solana and Avalanche are each down about 86%. Curiously, Zhu not too long ago eliminated quite a few references to Solana, Avalanche, Terra, Ethereum, and NEAR from his Twitter bio, and in addition deleted his Instagram account.
Three Arrows Capital has but to launch an official assertion on the rumors, and neither Zhu nor Davies had responded to Crypto Briefing’s request for remark as of press time.
This story is present and will likely be up to date as extra particulars emerge.
Disclosure: On the time of writing this text, the creator of this text owned ETH, NEAR and several other different cryptocurrencies.
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