Three Arrows Capital, Singapore/Dubai-based hedge fund that is invested in multiple blockchain firms, is fending off rumors of a possible liquidation event, according to a report by Reuters.
In an opaque tweet, founder Zhu Su, said they are “in the process of communicating with relevant parties and fully committed to working this out,” a statement that does not exactly instill confidence.
We are in the process of communicating with relevant parties and fully committed to working this out
— 朱溯 (3/AC) (@zhusu) June 15, 2022
The chatter revolves around a relationship with Celsius, an aspiring crypto bank that froze all withdrawals this past week. Along with the problem with Celsius, the entire crypto market has dropped precipitously in recent weeks causing crypto contagion concerns -especially for leveraged positions.
According to Three Arrow Capita’s website, it holds (or once held) $4 billion in assets under management.
Launched in 2012 by Zhu and Kyle Davies, Three arrows Capital invests in “tokens, protocols, and companies yielding interest for investors globally.”
Earlier this month, Zhu took to twitter to defend crypto markets and apparently LUNA – TerraUSD. The recent comment has generated an amount of criticism from others pointing to the fact that people lost some (or all) of their money in the TerraUSD debacle.
Boomers thought Luna1 collapse would take down the crypto industry
Instead, Tron, Waves, and other chains still working hard on next-gen algostable coins
Luna2 reuniting the Terra community as they rebuild the ecosystem
All w/ zero need for govt bailouts
— 朱溯 (3/AC) (@zhusu) June 1, 2022
