FTX Guncang, Founder Of Three Arrows Capital Opening Voice

FTX crypto exchange. (Photo; Doc. Gatto Text)

JAKARTA In the midst of the recent bustle of FTX news, one of the founders of crypto lending company Three Arrows Capital has gone bankrupt commenting on the condition of the crypto exchange. Su Zhu is the founder of Three Arrows Capital who opened his voice at the time FTX was experiencing a liquidity crisis.

Su Zhu himself had previously not surfaced after his company went bankrupt. He recounted his position when the Three Arrows Capital went bankrupt. In a Twitter post, he wrote:

That's where I surf the waves, the next time it is destroyed, the board is damaged, the coral is everywhere. The sudden pain from business failure and loss of purpose, as a gold kid from industry + business cycle more broadly, is as difficult as the next exclusion and demonstration," wrote @zhusu, November 9, 2022.

In addition to sharing his condition, he also expressed his gratitude for the community's support and sympathy from some of the community to him. Su Zhu also expressed his panic because he was the target of several people in the crypto community.

"To those who attacked us and tried to make us scapegoats for the entire industry, I know such vitriol comes from pain and absorption, you must have suffered a lot and sought that catalyst, some relief. I hope peace will be with you," he added.

Alameda Research and FTX

Furthermore, Alameda Research is also said to be related to the condition of Three Arrows Capital during its collapse. A crypto security observer Lucas Nuzzi revealed that Alameda was shaken in the second quarter of 2022 along with the then Three Arrows Capital.

The difference is, Alameda was able to survive because she managed to secure funding from FTX with a guarantee of 172 million FTT tokens guaranteed to be issued after 4 months as collateral.

5/This is what I think happened:

- Alameda exploded in Q2 along with 3AC + others.

- It only persists because it is able to secure funding from FTX using as a "guarantee" of the 172M FTT which is guaranteed to be granted 4 months later.

After investing, all tokens are resubmitted as repayments.

- Lucas Nuzzi (@LucasNuzzi) November 8, 2022

Apart from all that, it is not yet known in detail whether Alameda Research, one of the companies founded by Sam Bankman-Fried in addition to FTX, was affected by the decline in the crypto market after LUNA's drop in May or not.