Founder of hedge fund Three Arrow Capital (3AC), which filed for bankruptcy in the first week of July. It finally reappeared after five weeks. without knowing where he is now
In an interview with Bloomberg, the two founders of crypto hedge fund Su Zhu and Kyle Davies. acceptthat they are overconfident from years of bull market leading to the wrong decision
Zhu also revealed their closeness to Terra founder Do Kwon and claimed they believed the company was going to do great things. And he admits that the company’s affinity for Terra has caused them to ignore some warning signs about the company. That ultimately turned their $500 million investment into zero.
The two founders claimed that the investment of LUNA (now known as Luna Classic) was an absolute failure for the company. However, the real problems started when Bitcoin (BTC) dropped below $20,000 and it was impossible. That the company would gain access to more credit, Zhu claimed that even after the collapse of LUNA, the business was operating normally, explaining:
“Throughout that period We continue to do business as usual. But after that, you know, Bitcoin dropped from $30,000 to $20,000, that’s really painful for us. and like hammering nails into the lid of the coffin.”
when asked about their current address and the reason they are hiding Founder blames death threats for hiding Both of them did not reveal their current address. But just said they were moving to Dubai.
And finally, the founders denied any allegations of withdrawing funds before 3AC went bankrupt, including the $50 million purchase of the yacht revealed in a recently filed court lawsuit, Zhu said. this ship “It was bought over a year ago. and was commissioned to build and operate in Europe.”
refer : LINK
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