{"id":477212,"date":"2022-07-22T14:09:23","date_gmt":"2022-07-22T11:09:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/3ac-founders-reveal-ties-to-terra-founder-blame-overconfidence-for-collapse\/"},"modified":"2022-07-22T14:09:23","modified_gmt":"2022-07-22T11:09:23","slug":"3ac-founders-reveal-ties-to-terra-founder-blame-overconfidence-for-collapse","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/3ac-founders-reveal-ties-to-terra-founder-blame-overconfidence-for-collapse\/","title":{"rendered":"# 3AC founders reveal ties to Terra founder, blame overconfidence for collapse"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41014a1a8d1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41014a1a8d1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/3ac-founders-reveal-ties-to-terra-founder-blame-overconfidence-for-collapse\/#%E2%80%9D_3AC_founders_reveal_ties_to_Terra_founder_blame_overconfidence_for_collapse_%E2%80%9C\" >&#8221; 3AC founders reveal ties to Terra founder, blame overconfidence for collapse  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_3AC_founders_reveal_ties_to_Terra_founder_blame_overconfidence_for_collapse_%E2%80%9C\"><\/span>&#8221; 3AC founders reveal ties to Terra founder, blame overconfidence for collapse  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvOWNmZmQyNjgtNDJlNi00MjQyLTkzNTItNzI3YTIyZWVjZWY1LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-28d77a7a>The founders of tainted crypto hedge fund Three Arrow Capital (3AC), which filed for bankruptcy in the first week of July, have finally resurfaced after five weeks of no known whereabouts.<\/p>\n<p>In an interview with Bloomberg, the crypto hedge fund\u2019s two founders Su Zhu and Kyle Davies <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-22\/three-arrows-founders-en-route-to-dubai-describe-ltcm-moment\">admitted<\/a> that the overconfidence born out of a multiyear bull market, where lenders saw their value swell by virtue of financing firms like 3AC, led to a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of bad decisions that should have been avoided.<\/p>\n<p>Zhu also revealed their closeness to Terra founder Do Kwon and claimed they believed the firm was going to do big things. He admitted that the firm\u2019s closeness to Terra made them overlook certain red flags about the firm, which eventually led to their $500 million worth of investment going to zero. Zhu explained:<\/p>\n<blockquote><p>\u201cIf we could have seen that, you know, that this was now like, potentially like attackable in some ways, and that it had grown too, you know, too big, too fast.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>AC liquidators seek time, access to headquarters as Genesis, Algorand ties are untangled<\/em><\/strong><\/p>\n<p>The two founders claimed that the LUNA (now known as Luna Classic) investment surely was a setback for the firm. Still, the real issue began when Bitcoin (BTC) fell below $20,000, and it became impossible for the firm to access additional credit. Zhu claimed that even after LUNA\u2019s collapse, business was as usual, explaining:<\/p>\n<blockquote><p>\u201cThroughout that period, we continued to do business as usual. But then yeah, after that day, when, you know, Bitcoin went from $30,000 to $20,000, you know, that, that was extremely painful for us. And that was in, that ended up being kind of the nail in the coffin.\u201d<\/p><\/blockquote>\n<p>When inquired of their whereabouts and why they have been in hiding, the founders blamed a series of death threats as their reason for going underground. The duo didn\u2019t reveal their current whereabouts, but said they were moving to Dubai.<\/p>\n<p>The founders denied any allegations of pulling out money before 3AC went bankrupt and also cleared the air around the $50 million yacht that was disclosed in the recently filed court case. Zhu said that the boat \u201cwas bought over a year ago and commissioned to be built and to be used in Europe,\u201d adding that the yacht \u201chas a full money trail.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/3ac-founders-reveal-ties-to-terra-founder-blame-overconfidence-for-collapse\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; 3AC founders reveal ties to Terra founder, blame overconfidence for collapse &#8220; The founders of tainted crypto hedge fund Three Arrow Capital (3AC), which filed for bankruptcy in the first week of July, have finally resurfaced after five weeks of no known whereabouts. In an interview with Bloomberg, the crypto hedge fund\u2019s two founders&#8230;<\/p>\n","protected":false},"author":1,"featured_media":477213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvOWNmZmQyNjgtNDJlNi00MjQyLTkzNTItNzI3YTIyZWVjZWY1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,77595,131670,122378,3123,70934],"class_list":["post-477212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-lending","tag-lunc","tag-terra","tag-leverage","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/477212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=477212"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/477212\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/477213"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=477212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=477212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=477212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}