{"id":377974,"date":"2021-12-08T06:54:31","date_gmt":"2021-12-08T03:54:31","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/three-arrows-buys-156k-eth-in-the-weeks-after-ceo-abandoned-eth\/"},"modified":"2021-12-08T06:54:31","modified_gmt":"2021-12-08T03:54:31","slug":"three-arrows-buys-156k-eth-in-the-weeks-after-ceo-abandoned-eth","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/three-arrows-buys-156k-eth-in-the-weeks-after-ceo-abandoned-eth\/","title":{"rendered":"# Three Arrows buys 156K ETH in the weeks after CEO ‘abandoned ETH’"},"content":{"rendered":"

“# Three Arrows buys 156K ETH in the weeks after CEO ‘abandoned ETH’ <\/strong>”
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Crypto hedge fund Three Arrows Capital (3AC) has bought more than half a billion dollars worth of Ether in the time since CEO Zhu Su publicly slammed the cryptocurrency on Twitter<\/a>. Do the purchases mean he’s changed his mind, or was he just taking advantage of a market crash to buy the dip?<\/p>\n

In an anti-ETH tirade between Nov. 20 and Nov. 22, Zhu tweeted<\/a> about why he had \u201cabandoned Ethereum despite supporting it in the past.\u201d The thread came in response to a tweet from Synthetix founder Kain Warwick, who\u2019d called out people who have \u201csold out in pursuit of profit maximization.\u201d During the tweet storm Zhu claimed that Ethereum culture \u201csuffers massively from the Founders\u2019 Dilemma\u201d and that \u201ceveryone is already far too rich to remember what they originally set out to do.\u201d<\/p>\n

However, after attracting wide attention, he made a U-turn saying he wanted to “soften” his original stance and that \u201cI love Ethereum and what it stands for.\u201d<\/p>\n

In the 17 days or so since the threads, app<\/a>roximately 156,400 thousand Ether (ETH) or $676.37 million has been transferred to a wallet<\/a> that blockchain analytics firm Nansen has associated with 3AC. <\/p>\n

Almost all the funds entering the wallet during this period were transferred from Binance, FTX exchange or Coinbase. <\/p>\n

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Look I couldn’t let you guys jerk off watching the burn without me<\/p>\n

Eth L1 still unusable for newcomers, show it to your grandma if you don’t believe me<\/p>\n

I’ll still bid it hard on any panic dump like this weekend obv<\/p>\n

100k eth is dust fwiw, more coming<\/p>\n

\u2014 Zhu Su (@zhusu) December 7, 2021<\/a><\/p><\/blockquote>\n