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Three Arrows buys 156K ETH in the weeks after CEO ‘abandoned ETH’ -Breaking

by Mike Robinson

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Crypto hedge fund Three Arrows Capital (3AC) has purchased greater than half a billion {dollars} value of Ether (ETH) within the time since CEO Zhu Su publicly slammed the cryptocurrency on Twitter (NYSE:). Do the purchases imply he’s modified his thoughts, or was he simply benefiting from a market crash to purchase the dip?

In an anti-ETH tirade between Nov. 20 and Nov. 22, Zhu tweeted about why he had “deserted regardless of supporting it up to now.” The thread got here in response to a tweet from Synthetix founder Kain Warwick, who’d referred to as out individuals who have “bought out in pursuit of revenue maximization.” Through the tweet storm, Zhu claimed that Ethereum tradition “suffers massively from the Founders’ Dilemma” and that “everyone seems to be already far too wealthy to recollect what they initially got down to do.”

Continue Reading on Coin Telegraph

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