The company also filed for bankruptcy earlier this month after a court in the British Virgin Islands ordered the liquidation of Three Arrows Capital.
While the bankruptcy and liquidation processes continue 3AC founders Zhu Su and Kyle Davies hadn’t been around for a while.
The founders of 3AC broke their silence with an interview with Bloomberg.
“All That Happened Is So Sad!”
In an interview with Zhu Su and Kyle Davies, they said that the situation they are in and the losses caused by the collapse of 3AC are regrettable.
“All these situations are unfortunate. Many people lost a lot of money.
We positioned ourselves for the kind of market that didn’t happen in the end.”
in May TerraUST and LUNA 3AC was one of the largest and most important funds in the crypto industry prior to this collapse.
However, 3AC, with its Terra investment, was greatly affected by this collapse and went into bankruptcy.
3AC founders, Terra (LUNA), Grayscale Bitcoin Trust and staked Ethereum (ETH) He talked about how they failed in their bets and came to the bankruptcy stage.
“What we didn’t realize was that the LUNA could drop to zero in a few days.
There has also been leveraged trading in the hopes that the crypto market will rally to the upside.
There are too many crazy people in the cryptocurrency industry who are making death threats or statements like that for us. We think it’s in everyone’s best interest if we can be physically reassured.”
“Destination Dubai!”
Although the founders of 3AC did not say where they are or where they are going, one of the lawyers interviewed stated that their final destination is Dubai.
“We are planning to go to Dubai to manage the liquidation of 3AC and move our business.”
Finally, the 3AC founders said that the main reason for their bankruptcy was a systematic risk management failure.
According to documents submitted to the court by 3AC, which filed for bankruptcy in early July, it was seen that 3AC owed $3.5 billion to 27 crypto companies.