3AC Founder Accuses FTX & DCG of Instigating Terra's Downfall: Bitcoin Market Impact
The crypto world is ablaze with accusations as Three Arrows Capital (3AC) founder Su Zhu levels serious allegations against FTX and Digital Currency Group (DCG), claiming their actions contributed to the downfall of Terra's LUNA token and ultimately, 3AC itself. This controversy is sending ripples throughout the market, particularly impacting Bitcoin and other cryptocurrencies.
Su Zhu Accuses DCG & FTX of Conspiracy: In the most up-to-date series of Twitter posts, Three Arrows Capital (3AC) founder Zhu Su claimed that Grayscale Investments and Genesis Trading's mother or father, DCG, conspired with FTX to bring down Terra’s LUNA token and Three Arrows Capital (3AC). The Bitcoin market is watching closely as these allegations unfold. In the latest Twitter thread, Zhu Su said the parent firm of Grayscale Investments and Genesis Trading conspired with FTX to bring down Terra’s LUNA token and Three Arrows Capital (3AC) founder Su Zhu has thrown accusations on FTX and Digital Currency Group (DCG) of conspiring to put 3AC in its current predicament.
DCG, FTX, and the Gemini Dispute: Su Zhu accused DCG of working with FTX in the midst of the company’s dispute with cryptocurrency exchange Gemini. These accusations, made in a series of tweets by the 3AC co- founder, highlight a complex web of interconnected events that led to significant market instability.
Liquidity Issues and Accusations: As liquidity issues surround the Digital Currency Group (DCG), Three Arrows Capital (3AC) founder Su Zhu made a Twitter thread containing allegations against DCG. Three Arrows Capital (3AC) founder Su Zhu accused the Digital Currency Group (DCG) and FTX of having liquidity issues in a thread he posted on Twitter. The market is assessing the potential fallout from these liquidity concerns and the impact on Bitcoin.
What's Next for Bitcoin and the Crypto Market? The allegations from the 3AC founder paint a picture of potential market manipulation and collusion. The impact on Bitcoin and the broader cryptocurrency market is significant, leading to increased volatility and uncertainty. Investors are urged to exercise caution and stay informed as this situation develops.