Su Zhu, co-founder and CEO of bankrupt crypto fund Three Arrows Capital (3AC), gave a behind-the-scenes explanation of the slump that started from Terra (LUNA) and extended to FTX.
Water Zhu twitter In a series of posts he shared on his website, he made interesting statements about the most discussed events of recent times. to the description “Here is a rough summary of the Digital Currency Group (DCG) situation ”, Zhu said, stopping withdrawals. Gemini and targeted umbrella company DCG. LUNA with FTX and DCG acting togetherStating that he attacked , Zhu stated that the two companies in question made quite a profit from this event.
But what happened after Babel Finance and 3AC Stating that their bankruptcy hurt them, Zhu also GBTC stressed that other companies with investments were affected by this destruction. Zhu continued his statement with the following statements:
At that time, they could have acted calmly and restructured. However, they filled the gaps with works such as taking from the right pocket to the left pocket. It’s like a kid who plays poker and loses saying, “I’m fine, dad will give you money, let me keep playing”.
Accusing DCG of attacking LUNA with FTX, Zhu also said that DCG’s current value “none” said that.
They continued the manipulation using various methods like FTX to attack us for months. No one asked them how they filled the void in Genesis. DCG’s value is now zero. Creditors of FTX have also filed a fraud lawsuit alleging Alameda’s fraudulent transfer of funds to Genesis.
Sharing his foresight on the continuation of the process, Zhu said Genesis creditors’ DCG will lead to bankruptcy and added that they will take the remaining assets one way or another in the coming days.
Founder of US cryptocurrency exchange Gemini Cameron Winklevossyesterday, sent an open letter to DCG CEO Barry Silbert, asking for action to be taken to alleviate the grievances of thousands of people.