3AC wallet shifts over $20M in ETH, stablecoins over past 6 days, fueling rumors of revival attempt
Trading on the Three Arrows Capital (3AC) wallet picked up as funds started moving again in the main wallet.
A large move for Ethereum (ETH), USDT, and USDC can be seen in the image above, trading from Nov. 9 to Nov. 11. A total of over $20 million in 3 crypto assets were moved through OKX and CowSwap over 6 rounds. – Day.
Mike Dudas, founder of 6th Man Ventures and The Block, has expressed concern about the re-emergence of 3AC founders, explaining a possible ruse to raise new funding.
By the way, if you’re wondering why su zhu and kyle davies suddenly reappeared on the scene to cover up their dishonest pasts, it’s because they’re allegedly trying to raise new money.
what a world
— Mike Dudas (⛳️,🏆) (@mdudas) November 15, 2022
Singapore-based hedge fund founders Kyle Davies and Su Zhu have already faced negative press for their involvement in the liquidation of several high-profile cryptocurrency companies’ assets earlier this year. was
At the time of writing, 80% of the assets in the main 3AC wallet are stablecoins (DAI, USDC, and USDT).
