Su Zhu, CEO of Three Arrows Capital, announced his turn to Ethereum and blamed the project and community on Twitter.
The cryptocurrency billionaire claims that he has definitely abandoned the second largest cryptocurrency. Because it is a deprivation for newcomers.
Zhu addressed the problem with exorbitant fees on the Ethereum blockchain and the willingness of some of the most influential people in the community to address it.
previously atAddress Ethereum atAssociated with Three Arrows Capital has sent approximately $77 million worth of ETH to the FTX exchange.
In early November, Three Arrows Capital (3AC) was announced as one of the investors in Blizzard, a new fund aimed at boosting the development of Avalanche.
AVAX price recently hit a new all-time high of $138. In addition to Solana, Cardano and Binance Smart Chain, Avalanche benefits from Ethereum’s high fees, which remain a significant barrier to its widespread adoption.
Zhu, who started Three Arrows Capital with high school classmate Kyle Davies, is one of the largest crypto holders in the world.
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