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Su Zhu’s rise & fall with Three Arrows Capital (3AC) is a cautionary tale of crypto's highs and lows. From managing $10B to bankruptcy, legal trouble, & a lavish lifestyle unraveling—here’s what happened:
#CryptoCrash #ThreeArrowsCapital #SuZhu #CryptoNews #3AC #Write2Earn #HaveYouBinanced
#CryptoCrash #ThreeArrowsCapital #SuZhu #CryptoNews #3AC #Write2Earn #HaveYouBinanced
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Landing platform BlockFi announced that it has completed preparations for bankruptcy and is ready to begin implementing the actions described in the relevant plan. Among other things, it involves the payment of funds to creditors.
The first distribution is scheduled for early 2024. Others will follow, but the final amount of compensation will depend on the outcome of the proceedings with the bankrupt hedge fund #FTX Three Arrows Capital #3AC and other companies.
#BlockFi
The first distribution is scheduled for early 2024. Others will follow, but the final amount of compensation will depend on the outcome of the proceedings with the bankrupt hedge fund #FTX Three Arrows Capital #3AC and other companies.
#BlockFi
According to unconfirmed rumors, Blockchain.сom is selling assets worth $270m to fill the balance sheet deficiency caused by 3AC.
#crypto2023 #BTC #bnbgreenfield #3AC
#crypto2023 #BTC #bnbgreenfield #3AC
3AC Founder: Crypto Market's Biggest Failure Is Conventional Concepts Like "Shadow Banking"
The #3AC founder claimed that one of the primary causes of these errors is the proliferation of conventional financial concepts, such as "shadow banking" and the "internalization of procedures," in the financial sector.
Three Arrows Capital (3AC) founder Zhu Su recently addressed some of the reasons behind some recent errors in the #bitcoin market on Twitter. The 3AC founder said he agreed with how the bitcoin market is currently operating. Since there is no intraday market for funding the significant daily settlement imbalances that arise inherently in the system, it is claimed that #cryptocurrency investors are facing a financial catastrophe. On the other side, #crypto markets handle this far better.
The founder of 3AC, Zhu Su, responded to the comment on Twitter by claiming that the majority of recent errors in the cryptocurrency industry were caused by the adoption of antiquated concepts like "shadow banking" and "internalization of processes," that the next bull market will be fueled by investors who understand these problems, and that the underlying crypto infrastructure is a brand-new paradigm.
Nonetheless, some cryptocurrency specialists assert that, with a few modifications, these outdated ideas can still be applied in the world of digital assets. Others have suggested changing the definition of "shadow banking" to include the decentralized lending platforms that have gained popularity in the cryptocurrency space. The idea of internalizing processes can also be used in the blockchain environment, where smart contracts can automate a variety of formerly manual tasks.
It is obvious that the fusion of traditional banking and cryptocurrency is a popular topic in the industry. Some claim that traditional ideas have no place in the world of digital assets, but others argue that they may be modified to address the unique challenges and opportunities presented by cryptocurrencies and #blockchain technology. Lastly, the capacity of investors and innovators to strike a balance between the old and the new, incorporating the best practices of both sectors to create a more strong and resilient financial system, will decide the success of cryptocurrencies.
Three Arrows Capital (3AC) founder Zhu Su recently addressed some of the reasons behind some recent errors in the #bitcoin market on Twitter. The 3AC founder said he agreed with how the bitcoin market is currently operating. Since there is no intraday market for funding the significant daily settlement imbalances that arise inherently in the system, it is claimed that #cryptocurrency investors are facing a financial catastrophe. On the other side, #crypto markets handle this far better.
The founder of 3AC, Zhu Su, responded to the comment on Twitter by claiming that the majority of recent errors in the cryptocurrency industry were caused by the adoption of antiquated concepts like "shadow banking" and "internalization of processes," that the next bull market will be fueled by investors who understand these problems, and that the underlying crypto infrastructure is a brand-new paradigm.
Nonetheless, some cryptocurrency specialists assert that, with a few modifications, these outdated ideas can still be applied in the world of digital assets. Others have suggested changing the definition of "shadow banking" to include the decentralized lending platforms that have gained popularity in the cryptocurrency space. The idea of internalizing processes can also be used in the blockchain environment, where smart contracts can automate a variety of formerly manual tasks.
It is obvious that the fusion of traditional banking and cryptocurrency is a popular topic in the industry. Some claim that traditional ideas have no place in the world of digital assets, but others argue that they may be modified to address the unique challenges and opportunities presented by cryptocurrencies and #blockchain technology. Lastly, the capacity of investors and innovators to strike a balance between the old and the new, incorporating the best practices of both sectors to create a more strong and resilient financial system, will decide the success of cryptocurrencies.
In my 10+ years of #Crypto experience, I have made so many mistakes that have cost me a lot of money
Here are the 7 most common mistakes that 99% of investors make that prevent them from accumulating great wealth.
Before starting, Follow us & Like this thread, for future reference!
1. Overestimating your Alpha
Sometimes we overestimate our alpha and just keep investing more and more.
Even if the project performs well, what's the benefit for you if you have not booked any profit?
2. Thinking you are early
If you really know whether you are early or not, then
-Follow on chain movement.
-Research about the project even before tokens are available.
3. A big VC invested
If you think that any project is backed by some big VCs, then it will not fail.
►Always remember that they are humans and can make mistakes too.
Ex- #3AC , #AlamedaResearch
4. Anonymous Founders
There are many projects that went to zero with anonymous founders.
It doesn't mean that if any project has a founder who is known publicly, that project won't fail.
But at least you can get to know about their background.
5. The project is audited.
Third-party firms review the code and give it a thumbs up.
But still, bad actors can exploit the code and drain the money from the project.
So don't just invest blindly in a project on that basis.
6. Dunning-Kruger Effect
We often think we are geniuses in a bull market and start to leverage more.
Remember, when people start to flex their #BTC and crypto gains, it's probably a top signal, and we need to exit the market.
7. No control over emotions
The market always transfers wealth from the impatient to the patient.
People often make investment decisions when they're emotionally unstable, which often results in huge losses.
Learn new things every day and do research on the way markets work.
Focus on making money, as the goal should be to be rich, not to look rich.
Meditate regularly to have better control over your emotions.
If you lost a trade, don't panic; sit back and analyze your trades rather than going #100x to make it all back in one trade.
And finally, don't be so harsh on yourself if you are not getting what you want. Remember, good things take time; great things take a little longer.
If you liked this thread:
1. Follow us for more such threads.
2. RT the first message to share this thread with your friends.
Before starting, Follow us & Like this thread, for future reference!
1. Overestimating your Alpha
Sometimes we overestimate our alpha and just keep investing more and more.
Even if the project performs well, what's the benefit for you if you have not booked any profit?
2. Thinking you are early
If you really know whether you are early or not, then
-Follow on chain movement.
-Research about the project even before tokens are available.
3. A big VC invested
If you think that any project is backed by some big VCs, then it will not fail.
►Always remember that they are humans and can make mistakes too.
Ex- #3AC , #AlamedaResearch
4. Anonymous Founders
There are many projects that went to zero with anonymous founders.
It doesn't mean that if any project has a founder who is known publicly, that project won't fail.
But at least you can get to know about their background.
5. The project is audited.
Third-party firms review the code and give it a thumbs up.
But still, bad actors can exploit the code and drain the money from the project.
So don't just invest blindly in a project on that basis.
6. Dunning-Kruger Effect
We often think we are geniuses in a bull market and start to leverage more.
Remember, when people start to flex their #BTC and crypto gains, it's probably a top signal, and we need to exit the market.
7. No control over emotions
The market always transfers wealth from the impatient to the patient.
People often make investment decisions when they're emotionally unstable, which often results in huge losses.
Learn new things every day and do research on the way markets work.
Focus on making money, as the goal should be to be rich, not to look rich.
Meditate regularly to have better control over your emotions.
If you lost a trade, don't panic; sit back and analyze your trades rather than going #100x to make it all back in one trade.
And finally, don't be so harsh on yourself if you are not getting what you want. Remember, good things take time; great things take a little longer.
If you liked this thread:
1. Follow us for more such threads.
2. RT the first message to share this thread with your friends.
BTC Comment from 3AC Co-Founder: Super Cycle Has Started!
Kyle Davies, one of the founding partners of Three Arrows Capital (3AC), claimed that #Bitcoin (BTC) has entered the long-awaited super cycle.
While the cryptocurrency market continues its progress with bullish expectations, comments continue to come from important names in the industry. The co-founder of 3AC, which carried out great activities in the last bull cycle, but went bankrupt and was sued due to the Luna crisis, has come to light. Commenting after a long time, 3AC co-founder Kyle Davies claimed that #BTC has entered the super cycle, which is the final phase in its four-year cyclical progression.
Kyle Davies, co-founder of Three Arrows Capital (3AC), who has been in the crypto industry for many years, shared a post that excited crypto investors.
Addressing his followers on the X platform, Davies claimed that #BTC was in the super cycle phase, which is the last of the four-year cycle. Davies said: “Here we go. 4 year cycle. Predictable as always. Supercycle.” said.
The four-year BTC cycle is known as follows;
1- The end of the bull market and the year of retreat
2- Bear market year
3- Year of breaking out from the bottom
4- The year the bull market started
Davies, who pointed out that the bull market has begun in the four-year cycle, received intense criticism from his followers. The fact that 3AC company went bankrupt a few years ago and wiped out millions of dollars from the market has reduced confidence in Davies.
Comments on Davies' X post included accusations of theft and posting leveraged transactions. One X user called Davies: “The guy who melted down the hedge fund and caused tens of billions of dollars in damage.” said.
The 3AC co-founder said, "It's as predictable as ever" when talking about the super cycle, which brought to mind the question of why #3AC went bankrupt at the time. Crypto hedge fund 3AC went bankrupt after liquidating a large asset in leveraged transactions, putting the crypto industry in a difficult situation.
$BTC $BNB $ETH
Kyle Davies, one of the founding partners of Three Arrows Capital (3AC), claimed that #Bitcoin (BTC) has entered the long-awaited super cycle.
While the cryptocurrency market continues its progress with bullish expectations, comments continue to come from important names in the industry. The co-founder of 3AC, which carried out great activities in the last bull cycle, but went bankrupt and was sued due to the Luna crisis, has come to light. Commenting after a long time, 3AC co-founder Kyle Davies claimed that #BTC has entered the super cycle, which is the final phase in its four-year cyclical progression.
Kyle Davies, co-founder of Three Arrows Capital (3AC), who has been in the crypto industry for many years, shared a post that excited crypto investors.
Addressing his followers on the X platform, Davies claimed that #BTC was in the super cycle phase, which is the last of the four-year cycle. Davies said: “Here we go. 4 year cycle. Predictable as always. Supercycle.” said.
The four-year BTC cycle is known as follows;
1- The end of the bull market and the year of retreat
2- Bear market year
3- Year of breaking out from the bottom
4- The year the bull market started
Davies, who pointed out that the bull market has begun in the four-year cycle, received intense criticism from his followers. The fact that 3AC company went bankrupt a few years ago and wiped out millions of dollars from the market has reduced confidence in Davies.
Comments on Davies' X post included accusations of theft and posting leveraged transactions. One X user called Davies: “The guy who melted down the hedge fund and caused tens of billions of dollars in damage.” said.
The 3AC co-founder said, "It's as predictable as ever" when talking about the super cycle, which brought to mind the question of why #3AC went bankrupt at the time. Crypto hedge fund 3AC went bankrupt after liquidating a large asset in leveraged transactions, putting the crypto industry in a difficult situation.
$BTC $BNB $ETH
Three Arrows Capital Co-Founders Ordered To Appear In Court In British Virgin Islands
Kyle Davies, the founder of Three Arrows Capital (3AC), has been given two weeks to respond to court demands regarding the bankrupt fund’s books and records. This ruling came from the US bankruptcy court after Davies and his co-founder, Su Zhu, were accused of refusing to participate in bankruptcy proceedings.
According to the court’s ruling, the demand for court compliance was “in accordance with legal requirements and procedures.” Additionally, Davies and Zhu have been ordered to appear in court in the British Virgin Islands on May 22nd. Failure to comply with the court’s demands may result in a contempt of court charge.
3AC went bankrupt in June with a debt of $3 billion, and the collapse of 3AC contributed to similar failures from other cryptocurrency companies such as Voyager Digital, Celsius Network, and Genesis Asia Pacific.
It is worth noting that Genesis Asia Pacific is a part of the global company Genesis. As the court proceedings continue, many are left wondering about the fate of 3AC and the future of cryptocurrency companies. The current situation serves as a reminder of the importance of compliance with legal regulations, especially in the rapidly changing and uncharted territory of cryptocurrency.
This case also highlights the need for transparency and accountability in the management of investment funds. Investors trust fund managers to manage their assets with integrity, and the failure to do so can result in severe consequences for both the managers and investors.
As the legal proceedings continue, it remains to be seen how the court will rule and what impact this will have on the cryptocurrency industry. Nevertheless, this serves as a crucial reminder of the importance of following proper legal procedures and maintaining transparency in all financial transactions.
#3AC #crypto2023 #BTC #dyor #azcoinnews
This article was republished from azcoinnews.com
According to the court’s ruling, the demand for court compliance was “in accordance with legal requirements and procedures.” Additionally, Davies and Zhu have been ordered to appear in court in the British Virgin Islands on May 22nd. Failure to comply with the court’s demands may result in a contempt of court charge.
3AC went bankrupt in June with a debt of $3 billion, and the collapse of 3AC contributed to similar failures from other cryptocurrency companies such as Voyager Digital, Celsius Network, and Genesis Asia Pacific.
It is worth noting that Genesis Asia Pacific is a part of the global company Genesis. As the court proceedings continue, many are left wondering about the fate of 3AC and the future of cryptocurrency companies. The current situation serves as a reminder of the importance of compliance with legal regulations, especially in the rapidly changing and uncharted territory of cryptocurrency.
This case also highlights the need for transparency and accountability in the management of investment funds. Investors trust fund managers to manage their assets with integrity, and the failure to do so can result in severe consequences for both the managers and investors.
As the legal proceedings continue, it remains to be seen how the court will rule and what impact this will have on the cryptocurrency industry. Nevertheless, this serves as a crucial reminder of the importance of following proper legal procedures and maintaining transparency in all financial transactions.
#3AC #crypto2023 #BTC #dyor #azcoinnews
This article was republished from azcoinnews.com