Friday, July 1

Three Arrows Buys 156,000 ETH In Weeks After CEO Slammed ETH By CoinTelegraph

© Reuters. Three Arrows buys 156,000 ETH in the weeks after CEO criticized ETH

Cryptocurrency hedge fund Three Arrows Capital (3AC) has bought more than $ 500 million worth of Ether since its CEO, Zhu Su, publicly criticized the cryptocurrency on Twitter (NYSE :). Does the buying mean you’ve changed your mind, or have you just taken advantage of the market downturn to buy?

In a rant against it between November 20 and 22, Zhu tweeted about why he had “abandoned Ethereum despite having supported it in the past.” The thread came in response to a tweet from Synthetix founder Kain Warwick, who had criticized people who had “sold out for profit maximization.” During the tweet storm, Zhu claimed that the Ethereum culture “suffers massively from the Founders’ Dilemma” and that “everyone is already too rich to remember what he originally set out to do.”

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However, after drawing their attention, he took a 180 degree turn saying that he wanted to “soften” his original stance and that he “loves Ethereum and what it stands for.”

Read the full article on Cointelegraph

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