• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

3AC co-founder accuses Digital Currency Group of shaking hands with FTX resulting in the crisis

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Three Arrows Capital (3AC) co-founder Zhu Su has filed new expenses towards Digital Currency Group (DCG) in excess of the fund’s collapse.

3AC co-founder accuses Digital Currency Group of shaking hands with FTX causing crisis
3AC co-founder accuses Digital Currency Group of shaking hands with FTX resulting in crisis

In the most up-to-date series of Twitter posts, Three Arrows Capital (3AC) founder Zhu Su claimed that Grayscale Investments and Genesis Trading’s mother or father firm, Digital Currency Group (DCG), conspired with exchange FTX to assault LUNA of the Terra undertaking and develop liquidity. lots of cryptocurrency lending platforms and 3ACs fail, due to the chain impact stETH – Alameda – Celsius.

Related articles

South Korea prepares to test digital currency for citizens

South Korea prepares to check digital currency for citizens

November 23, 2023
KyberSwap was hacked, causing a loss of $47 million

KyberSwap was hacked, resulting in a reduction of $47 million

November 23, 2023

Here is a rough summary of the DCG condition

one) they conspired with FTX to assault Luna and steth and did very a couple of points in that way

two) suffered major losses in excess of the summer time from our bankruptcy, Babel and other firms concerned in the GBTC

three) then they could have quickly restructured

— Zhu Su (@zhusu) January 3, 2023

In addition, Zhu Su also accused DCG and FTX of misdirecting for lots of months and making use of distinctive strategies to assault 3AC, specially with the argument that each firms manufactured a whole lot of revenue by sending a lot more from consumers though wholly insolvent but nevertheless ” stubbornly” observe the regimen of trading actions waiting for the marketplace to rise.

seven) dcg worth is , criminal fraud, ftx debt also has counterfeit transport situation on Alameda capital returns to Genesis

eight) most OGs are very well mindful of how near Barry and SBF have been from the get started (SBF is on board genesis, they gave him his very first loan secured by ftt)

— Zhu Su (@zhusu) January 3, 2023

“The worth of DCG is zero. They are all lies and scams. FTX’s creditors have generally expert fraudulent transfers when Alameda Research returned money to Genesis.

Most men and women who know cryptocurrency in its early phases know how near Barry Silbert (CEO of DCG) and Sam Bankman-Fried have been. Sam Bankman-Fried has a spot on the Genesis workforce and the firm has provided him his very first FTT home loan.

Indeed, the aftermath of Sam Bankman-Fried and FTX manufactured the cryptocurrency marketplace significantly messier. The most vital of which is the situation surrounding the liquidity collapse of Digital Currency Group (DCG) and Genesis Trading, which led to Gemini-connected consequences.

As a end result, Gemini co-founder Cameron Winklevoss immediately accused DCG CEO Barry Silbert of “tactics” of deliberately extending the time and unwillingness to get the job done with the exchange to resolve the consumer deposit block. $one.675 billion.

On the side of Three Arrows Capital, though this is the very first time that Zhu Su has publicly criticized DCG immediately connected to the act of “hiding the stone”, but with FTX, the story would seem to proceed.

Because on Nov. sixteen, 2022, co-founder Kyle Davies unveiled that FTX and Alameda Research “killed” the fund by deliberately making use of a “trick” to liquidate 3AC’s positions. Just a couple of weeks later on, Zhu Su continued to press the situation in spite of Sam Bankman-Fried’s insistence that he was innocent.

Synthetic currency68

Maybe you are interested:

Maybe you are interested:

Tags: 3ACaccusescausingcofoundercrisiscurrencyDigitalFTXgrouphandsshaking
Share76Tweet47

Related Posts

James Wynn Halts Trading After Massive Loss

by shark
June 2, 2025
0

James Wynn, a prominent trader, suspended trading after a high-leverage strategy led from $4 million gains to $100 million, then...

Metaplanet Acquires 1,088 BTC Expanding Holdings Significantly

by shark
June 2, 2025
0

Japan's Metaplanet has acquired 1,088 more Bitcoin for $117.7 million, positioning it among the top ten global holders.

Bitcoin ETFs See $157 Million Outflow Ending Inflows Streak

by shark
June 2, 2025
0

The Bitcoin ETFs experience a net outflow of $157 million, ending six-week inflow streaks, reflecting shifts in investor sentiment due...

Nervos Network’s Force Bridge Compromised in $3M Hack

by shark
June 2, 2025
0

Cyvers Alerts reported a hack on Nervos Network's Force Bridge, compromising over $3 million in assets on June 2, 2025.

BitoPro Hack: $11.5 Million Lost in Taiwan

by shark
June 2, 2025
0

BitoPro, Taiwan-based crypto exchange, suffered an $11.5M hack in May 2025, with user fund impacts reported.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • James Wynn Halts Trading After Massive Loss
  • Metaplanet Acquires 1,088 BTC Expanding Holdings Significantly
  • Bitcoin ETFs See $157 Million Outflow Ending Inflows Streak
  • Nervos Network’s Force Bridge Compromised in $3M Hack
  • BitoPro Hack: $11.5 Million Lost in Taiwan
  • US Congress Moves to Introduce New Crypto Legislation
  • Singapore’s MAS to Curb Overseas Crypto Activities by 2025
  • Metaplanet Acquires 1,088 Bitcoin, Total Reaches 8,888 BTC
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7