Su Zhu used Twitter to make several accusations against Digital Currency Group.
Su Zhu, a founder of cryptocurrency hedge fund Three Arrows Capital (3AC), has made several accusations against Digital Currency Group (DCG).
According to the Twitter thread shared on January 3rd, Zhu blames DCG for conspiring with now-bankrupt cryptocurrency exchange FTX “to attack Luna and stETH.”
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
What is AVAX? (Avalanche Network Explained With Animations)
It is worth noting that in a Twitter thread, Zhu identified nine separate claims regarding Digital Currency Group. The man claimed that DCG “took substantial losses” from the bankruptcies of 3AC and Babel and could have “calmly restructured,” but they chose to fabricate a “left pocket right pocket callable promissory note,” which filled a so-called “hole.”
Throughout the thread, Zhu continued to compare DCG with the crypto exchange FTX. Nevertheless, the man emphasized that DCG CEO Barry Silbert was always close with former FTX CEO and co-founder Samuel Bankman-Fried (SBF).
Lastly, Zhu completed his Twitter thread predicting that Genesis will drive DCG into bankruptcy.
Genesis creditors will push it into bankruptcy and take remaining DCG assets in coming days either way, they are likely demanding Barry pays back his cashouts the easy way instead of waiting for a DoJ criminal case with restitution punishments.”
After publishing his Twitter thread, the 3AC founder received backlash from the crypto community on Twitter. Several users replied to Zhu’s tweets claiming that he should mind his business and focus on his own misdeeds.
A Twitter user, dubbed thosdoteth, sarcastically rephrased Zhu’s tweet to fit the 3AC scenario by stating: “still on the run, still being liquidated, still everyone else's fault.”
It is worth noting that 3AC bankruptcy proceedings are currently going through some difficulties as both founders are hiding in locations such as the United Arab Emirates and Indonesia, where it is harder to impose court orders.
Su Zhu is not the first person calling out Digital Currency Group. On January 2nd, Gemini co-founder Cameron Winklevoss published a public letter to DCG CEO Barry Silbert.
