Three Arrows Capital first criticized Ethereum, and then bought it for $ 400 million.

Briefly:

  • Three Arrows Capital redeemed almost million dollars
  • Against the background of the deal, rumors of speculation and violation of internal security spread on the network

Three Arrows Capital hedge fund transferred 91477 ETH from crypto exchanges Binance, Coinbase and FTX. The transactions are valued at approximately 450 million dollars.

The company’s actions have already faced criticism, since just a few weeks ago, the head of the fund, Zhu Soo, announced that he was abandoning ETH.

Recall that at the end of November, Zhu Soo posted a tweet in which he sharply criticized the upcoming ETH 2.0 update:

“The idea of ​​sitting silently and watching a currency burn and how its creator plays with block validation tests while no newbie can afford a blockchain does not appeal to me ”.

Yes I have abandoned Ethereum despite supporting it in the past.

Yes Ethereum has abandoned its users despite supporting them in the past.

The idea of ​​sitting around jerking off watching the burn and concocting purity tests, while zero newcomers can afford the chain, is gross.

– Zhu Su 🔺 (@zhusu) November 21, 2000

Zhu Soo later declined to comment, noting that he was wrong when he announced that he would not broadcast.

The thing is, he thinks that the first layer of ether is still not usable, but the team is working on scaling the network. And so it will take advantage of every drawdown to buy more.

As a reminder, Three Arrows Capital became an investor in the Avalanche Foundation in November to attract more DeFi and NFT developers. Many proponents of the ether call this deal nothing more than “betrayal.”

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