Crypto Drama Unfolds: Su Zhu Blames DCG for 3AC Collapse, Community at Odds

Liquidity Crisis and Blame Game

The crypto space isn’t just about buying low and selling high; it’s also about drama, and the latest episode features none other than Three Arrows Capital (3AC) founder, Su Zhu. Amidst liquidity issues surrounding the Digital Currency Group (DCG), he took to Twitter, unburdening a thread of allegations against DCG and even the now infamous FTX.

Accusations Fly: DCG’s Role in LUNA2’s Collapse

Zhu didn’t hold back, suggesting that DCG collaborated with FTX to orchestrate the downfall of LUNA2, now known as Luna Classic (LUNC). He accused them of not only profiting from this collapse but also engaging in a conspiracy that helped to ‘fill the hole’ left by 3AC’s own bankruptcy. Talk about passing the buck!

Community Reactions: Accountability in Question

However, while Zhu was busy casting shadows, the crypto community raised an eyebrow. Was it really everyone else’s fault? DeFi enthusiast Alex didn’t mince words, pointing out the irony of Zhu’s lack of personal accountability. Meanwhile, Anthony Sassano, host of The Daily Gwei, dripped sarcasm in his response, highlighting that Zhu and co-founder Kyle Davis were conveniently exempt from blame.

More Voices Join the Fray

As the drama unfolded, other notable figures chimed in. Gemini’s founder, Cameron Winklevoss, sent an open letter to Barry Silbert, the CEO of DCG, demanding the repayment of a hefty $900 million, supposedly owed to Gemini’s clients. Meanwhile, Silbert rebutted these claims, stating that DCG had never missed an interest payment to Genesis. Well, that’s a twist!

The Community’s Split Verdict

A poll conducted by Cointelegraph revealed that most community members were hesitant to take sides in this unfolding saga. With 23% backing Zhu, 15% siding with DCG, and a whopping 62% refusing to choose, it seems like no one is willing to jump in front of the bus just yet.

The Legal Quagmire of 3AC

As if the Twitter battles weren’t enough, the legal woes for 3AC continue. Reports suggest that Zhu and Davis might be dodging legal processes by being located in Indonesia and the UAE. With claims of active social media presence yet a lack of engagement with liquidators, it seems the founders could be playing a long game of hide and seek.