{"id":62917,"date":"2022-06-15T10:40:57","date_gmt":"2022-06-15T07:40:57","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62917"},"modified":"2025-09-05T20:54:27","modified_gmt":"2025-09-05T17:54:27","slug":"three-arrows-capital-co-founder-breaks-silence-amid-insolvency-rumors","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/three-arrows-capital-co-founder-breaks-silence-amid-insolvency-rumors\/","title":{"rendered":"Three Arrows Capital co-founder breaks silence amid insolvency rumors"},"content":{"rendered":"<p>Three Arrows Capital (3AC) co-founder Su Zhu broke his silence amid speculation about liquidations of large positions by the firm and its solvency.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We are in the process of communicating with relevant parties and fully committed to working this out<\/p>\n<p>\u2014 Zhu Su \ud83d\udd3a (@zhusu) <a href=\"https:\/\/twitter.com\/zhusu\/status\/1536876343815983104?ref_src=twsrc%5Etfw\">June 15, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe are in the process of communicating with the relevant parties and fully committed to solving this problem,\u201d he wrote.<\/p>\n<\/blockquote>\n<p>On June 14, stETH tokens from Lido&#8217;s liquid-staking service <a href=\"https:\/\/u1f987.com\/en\/news\/lidos-tokenized-ethereum-platform-falls-5-vs-the-original\">fell 5%<\/a> from parity. PeckShield noted at the time that addresses allegedly linked to 3AC carried out two large swaps, exchanging 56 000 stETH for ETH.<\/p>\n<p>Some analysts noted that the hedge fund&#8217;s activities indicate an intention to repay its debts and loans.<\/p>\n<p>The trader with the handle MoonOverlord dubbed 3AC the \u201cbiggest stETH dumper.\u201d He noted that the founders had been silent for several days, Zhu removed mentions of any cryptocurrencies from his Twitter profile and deleted his Instagram account, and the firm \u201c<a href=\"https:\/\/etherscan.io\/tx\/0xe115178f496b3d016a1cc37917ebaf3642efa30512cc67137520c3a9bbf29ce7\">dumped<\/a> 30 000 stETH and reduced all positions in AAVE.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">people think Celsius is the biggest stETH dumper but its 3AC and it isnt relatively close, they are dumping on every account and seed round address they have, most looks like its going to payback debts and outstanding borrows they have <a href=\"https:\/\/t.co\/9bZnmTXQzj\">pic.twitter.com\/9bZnmTXQzj<\/a><\/p>\n<p>\u2014 moon (@MoonOverlord) <a href=\"https:\/\/twitter.com\/MoonOverlord\/status\/1536697618797142016?ref_src=twsrc%5Etfw\">June 14, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analyst OnChainWizard <a href=\"https:\/\/twitter.com\/OnChainWizard\/status\/1536918183851982848?s=20&#038;t=I4ummeCPnQMV9RJHLdxAvQ\">stated<\/a> that the address tagged by Nansen as linked to 3AC is \u2018aggressively\u2019 paying down an Aave loan. According to <a href=\"https:\/\/zapper.fi\/account\/0x4093fbe60ab50ab79a5bd32fa2adec255372f80e\">Zapper<\/a>, the wallet&#8217;s position in the lending protocol stands at about 212 000 WETH (over $238 million), it also has a debt of over $185 million in USDT and USDC.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">15 \u0438\u044e\u043d\u044f 2022 | 14:14<\/time><span class=\"gtb_text-wrappers_update_head\">\u0410\u043f\u0434\u0435\u0439\u0442: <\/span><\/p>\n<p>According to The Block analyst Larry Cermak, Nansen <a href=\"https:\/\/twitter.com\/lawmaster\/status\/1537004562975965189?s=20&#038;t=8qhxZnobN4IPkyAwM7mYEQ\">removed<\/a> the tag \u201c3AC.\u201d He also added that he is \u2018almost sure\u2019 that the OnChainWizard wallet does not belong to the hedge fund.<\/p>\n<\/div>\n<p>According to EthHub co-founder Anthony Sassano, large whales \u2018hunt\u2019 for 3AC&#8217;s position in Aave. He said that Ethereum&#8217;s liquidation price is $1,034. At the time of writing ETH was trading near $1,134, according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\">CoinGecko<\/a>. <\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Whales out here hunting 3ac&#8217;s gigantic ETH Aave position ($245 million) which has a current liquidation price of $1034<\/p>\n<p>\ud83e\udee1<\/p>\n<p>\u2014 sassal.eth\/acc \ud83e\udd87\ud83d\udd0a (@sassal0x) <a href=\"https:\/\/twitter.com\/sassal0x\/status\/1536943073686691841?ref_src=twsrc%5Etfw\">June 15, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">15 \u0438\u044e\u043d\u044f 2022 | 11:38<\/time><span class=\"gtb_text-wrappers_update_head\">\u0410\u043f\u0434\u0435\u0439\u0442: <\/span><\/p>\n<p>Nexo says it has no exposure to 3AC and that it maintains conservative risk management and strict over-collateralization requirements, regardless of borrowers\u2019 reputation.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/Nexo?ref_src=twsrc%5Etfw\">@Nexo<\/a> has $0 exposure to Three Arrows Capital. <br \/>Nexo has always differentiated itself from others as being a very conservative lender with stringent risk management and strict over-collateralization requirements, regardless of borrowers\u2019 reputation. <a href=\"https:\/\/t.co\/VP37WdEn7j\">https:\/\/t.co\/VP37WdEn7j<\/a><\/p>\n<p>\u2014 Nexo (@Nexo) <a href=\"https:\/\/twitter.com\/Nexo\/status\/1536957253634375680?ref_src=twsrc%5Etfw\">June 15, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Tether team also stressed that information about the issuer&#8217;s loans to 3AC is \u2018categorically false\u2019.<\/p>\n<p>At the time of the update, Ethereum was trading at around $1,068. That is only about $34 above the hedge fund\u2019s Aave liquidation price.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"489\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT_2022-06-15_11-37-26-1024x489.png\" alt=\"Three Arrows Capital co-founder breaks silence amid insolvency rumors\" class=\"wp-image-175952\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT_2022-06-15_11-37-26-1024x489.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT_2022-06-15_11-37-26-300x143.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSDT_2022-06-15_11-37-26-768x366.png 768w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Hourly ETH\/USDT chart on Binance. Data: TradingView.<\/figcaption><\/figure>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Three Arrows Capital (3AC) co-founder Su Zhu broke his silence amid speculation about liquidations of large positions by the firm and its solvency.<\/p>\n","protected":false},"author":1,"featured_media":62918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1212,46,1352],"class_list":["post-62917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-aave","tag-ethereum","tag-three-arrows-capital"],"aioseo_notices":[],"amp_enabled":true,"views":"32","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62917","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=62917"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62917\/revisions"}],"predecessor-version":[{"id":62919,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/62917\/revisions\/62919"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/62918"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=62917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=62917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=62917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}