3AC Cofounder Zhu Su Reemerges Amid Alameda-FTX Collapse

Key Takeaways:

  • 3AC co-founder is back online and tweeting about his experience so far.
  • Zhu Su could stage a comeback into the cryptocurrency industry.
3AC Cofounder Zhu Su Reemerges Amid Alameda-FTX Collapse
3AC cofounder Zhu Su has reemerged amid FTX collapse.

LAGOS (CoinChapter.com) — The ongoing fiasco between Changpeng Zhao, Binance CEO and Sam Bankman-Fried’s FTX seems to have pulled Three Arrow Capital cofounder Zhu Su out of his hiding place as the estranged developer took to his Twitter account to share an update on his whereabouts.

Zhu Su after disappearing from the online space for more than four months on Nov. 9 through a Twitter thread shared his current situation and thoughts. The founder of the defunct crypto hedge lamented that he lost his purpose since the collapse of 3AC this year.

Alluding to FTX liquidation, Zhu Su noted that the “failure” of a business can cause serious pain for the proprietor. He likened the pain he felt following 3AC collapse to that of hitting reefs during a surfing accident. Zhu said:

“There I was, surfing the wave of waves, next moment wiped out, board broken, rocks reefs everywhere. The sudden pain of business failure and loss of purpose, as a golden child of the industry + biz cycle more broadly, was as difficult as the ensuing ostracization and demonization.”

Three Arrow Capital cofounder Zhu Su
3AC cofounder Zhu Su

The estranged 3AC cofounder also expressed gratitude to people who supported him after his company was declared bankrupt. In his first tweet in months Zhu Su still argued that the company although positioned wrongly was steadfast in integrity.

Additionally, Zhu wished peace be onto the bad actors who attacked Three Arrows Capital, making them scapegoats for the entire web3 industry. He also reiterated his newfound respect for older generations, journalists and regulators who in one way or another assisted him.

3AC Cofounder Zhu Su To Stage A Comeback To Crypto Space

The Three Arrow Capital cofounder in his tweet further hinted at a possible comeback into the cryptocurrency industry. Zhu Su noted that while he is still considering he has plans to rebuild another project in the blockchain space.

“Whats next? I dont know for sure, part of me wants to live a quiet life in the woods, another wants to rebuild with a fresh purpose. Will share more thoughts and musings going forward, I’ve missed you all.”

Zhu Su said.

Su Zhu, who along with his co-founder Kyle Davies, has been evasive about his whereabouts since the collapse of their fund, implied he has been at sea. He disclosed that in the last few months he has learned how to surf and also learned a new language.

Zhu Su To Stage A Comeback To Crypto Space

3AC’s Massive Collapse

Recall that the Singapore-based 3AC filed for bankruptcy protection in July, citing “extreme fluctuations” in the cryptocurrency markets. The crypto hedge in July had filed for Chapter 15 bankruptcy in the Southern District of New York federal court.

The firm borrowed large amounts of funds from several crypto lenders, including BlockFi, Celsius, Babel Finance and Voyager Digital, but was unable to pay.

The lenders halted withdrawals which eventually triggered a series of events that led to the collapse of the company. Notably, the 3AC collapse happened barely one month after Terraform Lab’s collapsed alongside its tokens.

Meanwhile, court records show that 3AC is indebted to 27 businesses for a staggering $3.5 billion.

Additionally, for more news on cryptocurrency and if it will replace precious metals soon, click here.

Leave a Comment

Related Articles

Our Partners

SwapCoin.com RapidCoin.com ChangeNOW.com Paybis.com WestcoastNFT.com