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.

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).

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