3AC founders reveal ties to Terra founder, blame overconfidence for collapse

2022.07.23 00:38

3AC founders reveal ties to Terra founder, blame overconfidence for collapse

The founders of tainted crypto hedge fund Three Arrow Capital (3AC), which filed for bankruptcy in the first week of July, have finally resurfaced after five weeks of no known whereabouts.

In an interview with Bloomberg, Su Zhu and Kyle Davies, the two founders of the crypto hedge fund, admitted that the overconfidence born out of a multiyear bull market, where lenders saw their values swell by virtue of financing firms like theirs, led to the series of bad decisions that should have been avoided.

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