Cryptocurrency News
Crypto Biz: The 3AC saga takes another bizarre twist
2022.07.24 20:17
Crypto Biz: The 3AC saga takes another bizarre twist
About eight months ago, I vouched pretty strongly for Su Zhu to be included in the prestigious Cointelegraph Top 100. My reasoning was pretty straightforward: Zhu was not only an influential figure on social media, but he ran arguably the most revered hedge fund in crypto — Three Arrows Capital, also known as 3AC. Then, the bear market of 2022 exposed 3AC as a house of cards run by founders who believed their own hype — and made reckless business decisions along the way.
With the 3AC saga still unfolding, we received privileged information this week about the company’s remaining assets. The revelations aren’t good if you’re a 3AC creditor looking to be made whole again.
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