Three Arrows Capital co-founder Su Zhu posted a vague tweet today. The topic of the tweet was the circulating claims of a possible “extinction” among the crypto community. Zhu tweeted that the firm is “determined to solve this.” Three Arrows Capital, founded by Su Zhu and Kyle Davies, is one of crypto’s most respected hedge funds. There are many altcoins in their portfolio such as Solana, Avalanche. Here are the allegations and the latest…
Sad claims for Three Arrows Capital
Three Arrows Capital co-founder Su Zhu said that the spread of rumors that the firm may be facing liquidity problems in the crypto community then he broke his silence. The popular trader posted a cryptic tweet earlier Wednesday, implying that Three Arrows Capital is seeking a solution to a problem it is facing. “We are in the process of communicating with interested parties and are fully committed to solving this,” Zhu wrote. On top of that, Cobie encountered a number of supportive messages from Byzantine General, satsdart, and other members of the crypto community.
Rumors about possible problems with the firm first surfaced in the crypto community on Twitter early Tuesday. It spread throughout the day. Unconfirmed reports claim that the firm may have missed a margin call and experienced a liquidation due to the recent meltdown in the crypto market. The rumors came after Celsius announced a liquidity crisis. As Kriptokoin.com also reported, Celsius had to stop customers’ withdrawals after the crisis.
Three Arrows Capital Solana, known for its AVAX, ETH investments
Three Arrows Capital is one of the most successful crypto hedge funds in the world. After launching in 2012, it has grown into a multi-billion dollar organization known for its forward-thinking trade calls, propelling Zhu and longtime partner Kyle Davies to crypto celebrity status. Throughout 2021, Three Arrows Capital is pushing the thesis for a “super cycle”.
Solana became famous for approving alternative layer-1 projects like Avalanche and Terra before their parabolic rallies. From the beginning to the end of 2021, many cryptocurrencies have gained value besides Bitcoin (BTC). In fact, if you look at data sites like CoinGecko, you can see that most of them hit “all-time highs” in the past year. Unfortunately, however, Terra has since dropped to zero. Solana and Avalanche fell nearly 86 percent. Interestingly, Zhu recently removed a number of references to Solana, Avalanche, Terra, Ethereum, and NEAR from his Twitter bio. He also deleted his Instagram account. Three Arrows Capital has yet to release an official statement in response to the rumors.
