3AC’s Su Zhu Speaks Out: FTX Crash Could Have Been Avoided

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3AC’s Su Zhu Speaks Out: FTX Crash Could Have Been Avoided

Expressing his opinion, Su Zhu, the co-founder of the fallen Three Arrows Capital (3AC), took to Twitter to state that the FTX crash and the tremors faced by it could have been avoided. Zhu explained to the crypto community that if FTX had not dumped all the client’s BTC and ETH to buy FTT and SOL, it could have avoided the chaos that followed the destruction of the once-shining empire.

Fact that eth bottomed in jun really just goes to show how avoidable the last few months were if ftx hadn’t dumped all clients btc and eth to buy ftt and sol https://t.co/XaWtluvAJb

— Zhu Su 🔺 (@zhusu) January 22, 2023

Zhu made his remarks after sharing a tweet by Byzantine General, the Ambassador of Plutus, which highlighted the behavior of crypto Twitter. By giving an example of two situations, the Ambassador of Plutus claims that when FTX manipulates the entire crypto market, the crypto community claims that everything is “all good.”

Furthermore, Byzantine General points out that when FTX is gone and cryptos have woken up from their slumber, crypto Twitter shouts out, “Unacceptable, manipulation, shadow cabals, and cartels, regulators do something!” While the co-founder of 3AC shared his thoughts, the crypto community took shots at Zhu.

The crypto community was still angry at the co-founder, who continued to tweet about his thoughts and the blockchain industry. Moreover, Bloomberg reported that the 3AC founders are still not cooperating with advisors who are working towards liquidating 3AC, which led them to take an informal route.

In the early days of the new year, the advisors tagged the founders of 3AC, demanding the production of sensitive documents. The advisors justified that the move is necessary because the pair’s whereabouts are unknown, and they are not fully cooperating with 3AC’s liquidation.

Concurrently, the crypto community was shocked when it was revealed, according to a leaked pitch, that the founders of 3AC are seeking funds to create a GTX, a new crypto exchange.

Source: ethereum.today

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