Ku The Daily Hodl - 1 year ago - Waktos Maca: 3 menit
Founders of Bankrupt Three Arrows Capital Emerge From Unknown Location As Creditors Seek $2,800,000,000: Report
The founders of a troubled crypto hedge fund have reportedly reappeared after leaving their creditors high and dry with a multi-billion dollar bill for over a month.
Nurutkeun anyar laporan by Bloomberg, Three Arrows Capital (3AC) co-founders Kyle Davies and Su Zhu have resurfaced after five weeks of hiding as their creditors seek a $2.8 billion repayment.
Zhu tells Bloomberg the pair took a leave of absence because they received numerous death threats, but says that being away didn’t stop them from communicating with authorities.
Davies says also notes he and Zhu truly believed in their trading and investment strategies.
“We believed in everything to the fullest. We had all our, almost all of our assets in there. And then in the good times we did the best. And then in the bad times, we lost the most.”
Zhu and Davies also highlight that the collapse of Three Arrows Capital along with embattled firms Celsius and Voyager Digital was not a surprise in hindsight as they all ended up making the same bets.
“It’s not a surprise that Celsius, ourselves, these kind of firms, all have problems at the same time. We have our own capital, we have our own balance sheet, but then we also take in deposits from these lenders and then we generate yield on them.
So if we’re in the business of taking in deposits and then generating yield, then that, you know, means we end up doing similar trades.”
Zhu also says that the implosion of the Terra (Luna) ecosystem greatly impacted their business model as it was all downhill after LUNA lost over 99% of its value in the span of just a few days.
"Anu kami gagal sadar nyaéta yén LUNA sanggup turun ka nol épéktip dina sababaraha dinten sareng ieu bakal ngatalisan squeeze kiridit di industri anu bakal masihan tekanan anu signifikan dina sadaya posisi anu teu likuid…
Urang tadi tipena béda trades nu urang sadayana pikir éta alus, jeung jalma séjén ogé miboga trades ieu. Teras aranjeunna sadayana ditandaan super, super gancang.
Kusabab LUNA ngan kajantenan, éta pisan contagion dimana jalma éta kawas, 'OKÉ, aya jalma anu ogé leveraged lila staked Éter versus Éter anu bakal meunang liquidated salaku pasar turun?' Janten sadayana industri sacara épéktip ngaburu posisi ieu.
Two weeks ago, a New York-based judge tos dikaluarkeun a ruling that the 3AC’s remaining assets will be frozen as part of company’s ongoing bankruptcy proceeding.
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Gambar anu ditampilkeun: Shutterstock / Liu zishan
pos teh Founders of Bankrupt Three Arrows Capital Emerge From Unknown Location As Creditors Seek $2,800,000,000: Report mucunghul munggaran dina Ari Hodl Harian.
sumber aslina: Ari Hodl Harian