3AC Founder Zhu Su: DCG & FTX Conspired To Attack Terra LUNA!
3AC Founder Zhu Su: DCG & FTX Conspired To Attack Terra LUNA!
Co-founder of the now-bankrupt hedge fund Three Arrows Capital (3AC) recently released a Twitter thread alleging two massive crypto firms on having a hand in the massive collapse of the Terra Luna ecosystem.
Zhu Su’s Claims
According to the 3AC founder, Digital Currency Group (DCG) had “conspired w FTX to attack Luna” all the while making “a fair bit doing so.” Zhu Su says that this had been the reason for Terra Luna’s downfall, which had also been a major factor as to the collapse of Three Arrows Capital themselves.
“They [DCG], like FTX, proceeded to misdirect for months, using various methods to attack us and also not have anyone ask the hard questions which is how did genesis fill the hole” Zhu Su wrote.
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Here's rough summary of dcg situation
1) they conspired w FTX to attack Luna and steth and made a fair bit doing so
2) they took substantial losses in the summer from our bankruptcy as well as Babel, and other firms involved in gbtc
3) they could've calmly restructured then
— Zhu Su 🔺 (@zhusu) January 3, 2023
DCG Liquidity Issues
Zhu Su’s accusations come just moments after Gemini founder Cameron Winklevoss released a letter on Twitter confronting the CEO of DCG, Barry Silbert, to pay back $900 million that DCG’s subsidiary company Genesis allegedly owed to Gemini and their clients.
Despite this however, DCG CEO Barry Silbert responded arguing that “DCG did not borrow $1.675 billion from Genesis” and that “DCG has never missed an interest payment to Genesis.”
DCG did not borrow $1.675 billion from Genesis
DCG has never missed an interest payment to Genesis and is current on all loans outstanding; next loan maturity is May 2023
DCG delivered to Genesis and your advisors a proposal on December 29th and has not received any response
— Barry Silbert (@BarrySilbert) January 2, 2023
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