Su Zhu Says 3AC Is "Committed to Working This Out" as Wipeout Rumors Rage

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Su Zhu and Kyle Davies Three Arrows Capital is one of cryptos most respected hedge funds.

Three Arrows Capital co-founder Su Zhu has broken his silence after rumors that the firm may be facing liquidity issues have spread across the crypto community.

The popular trader posted a cryptic tweet early Wednesday hinting that Three Arrows Capital was looking for a solution to an issue it was facing. We are in the process of communicating with relevant parties and fully committed to working this out, Zhu wrote, prompting a flurry of supportive messages from the likes of Cobie, Byzantine General, satsdart, and other members of the crypto community.

Rumors of the firms possible issues first surfaced on Crypto Twitter early Tuesday and spread over the course of the day. Unconfirmed reports claim that the firm may have missed a margin call and experienced a liquidation event due to the recent meltdown in the crypto market. The rumors came only hours after Celsius halted customer withdrawals as it faced whats widely believed to be its own liquidity crisis.

Three Arrows Capital is one of the worlds most successful crypto hedge funds. After launching in 2012, it grew into a multi-billion dollar establishment that became known for its prescient trading calls, propelling Zhu and his longtime partner, Kyle Davies, to crypto celebrity status.

Throughout 2021, Three Arrows Capital became notorious for pushing the so-called supercycle thesis and endorsing alternative Layer 1 projects like Solana, Avalanche, and Terra ahead of their parabolic rallies. Since then, Terra has crashed to zero and Solana and Avalanche are both down about 86%. Interestingly, Zhu recently removed a number of references to Solana, Avalanche, Terra, Ethereum, and NEAR from his Twitter bio and has also deleted his Instagram account.

Three Arrows Capital has not yet published an official statement in response to the rumors, and neither Zhu nor Davies had responded to Crypto Briefings request for comment by press time.

This story is breaking and will be updated as further details emerge.

Disclosure: At the time of writing, the author of this piece owned ETH, NEAR, and several other cryptocurrencies.

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Su Zhu Says 3AC Is "Committed to Working This Out" as Wipeout Rumors Rage - Crypto Briefing

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