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If you prefer to read in print, you can also find this article in the August 15, 2022, issue of With cryptocurrencies trading on exchanges around the world, the firms experience with arbitrage came in handy right away. Thank you for subscribing and supporting our journalism. As the death spiral unfolded, Scott Odell, a lending executive at Blockchain.com, reached out to the firm to check in about the size of its luna hit; after all, the loan agreement stipulated that Three Arrows notify the company if it experienced an overall drawdown of at least 4 percent. Born in China, Su Zhu moved to the United States to attend college. A Florida bill takes a ridiculous GOP argument to the extreme, aiming to eliminate the Democratic Party for its ancient ties to white supremacy. In May 2021, Bloomberg reported that Davies remained optimistic about Bitcoin, saying, "Bitcoin's down 30 percent off the highs, it's not really down that much.". Su Zhu Says 3AC Is "Committed to Working This Out" as Wipeout Rumors Three Arrows Capital reportedly facing insolvency, crypto - FXStreet Once that happened, we knew something was wrong, says Lane Kasselman, chief business officer of Blockchain.com. *Sorry, there was a problem signing you up. In the U.S., SEC enforcement attorneys are now being copied on all Three Arrows court filings. They had ample opportunity to get out with a graze but not blow themselves up, says Fauchier. By submitting your email, you agree to our Terms and Privacy Policy and to receive email correspondence from us. Crypto Hedge Fund Three Arrows Capital Considers Asset Sales, Bailout Discover The Huge Fortune Of Su Zhu, The Co-founder Of Three Arrows Capital Some sources report that he still has a large amount of money tied up in his own personal investments and assets, while others assume that with the liquidation of Three Arrows Capital all of his funds were lost. When Su and Kyle told me how they got started, I was pretty impressed they had hustled their way into this lucrative market., At the time, FX trading was moving to electronic platforms, and it was easy to find differences, or spreads, between the prices quoted at different banks.