Twitter continues to be the battleground of tech apostles like Elon Musk, Michael Saylor, or crypto pundit Vitalik Buterin. The latest battle aroused around Zhu Su (@zushu), CEO of struggling crypto hedge fund Three Arrows Capital (3AC), who allegedly purchased a superyacht for $50 million. The rumor was brought by @AutismCapital and @FatManTerra and later commented by Ethereum founder and mastermind Vitalik Buterin (@VitalikButerin). The depressed crypto environment only makes envy and ill will run high on Twitter as well.
While its co-founder Zhu Su was concerned with his superyacht, his cryptocurrency-focused hedge fund Three Arrows Capital Ltd (3AC) (www.threearrowscap.com) has hired legal and financial advisers to help work out a solution for its investors and lenders, after suffering heavy losses from a broad market selloff in digital assets, WSJ reported. 3AC co-founder Kyle Davies disclosed to WSJ that the Terra LUNA and UST fallout severely hurt the company. Plans would be made to find an “equitable solution” for all of 3AC’s constituents.
The publicly listed crypto company Voyager Digital revealed it was dealing with issues tied to 3AC. In a letter sent to Voyager’s investors a few days ago, the company disclosed it was owed $655 million and 3AC was supposed to pay the funds back BTC and USDC. Voyager is allegedly owed 15,250 BTC and 350 million USDC, according to the company.
