Zhu Su, co-founder and CEO of Three Arrows Capital, appears to have addressed rumors regarding the crypto investment firm’s operations and solvency.
“We are in the process of communicating with relevant parties and fully committed to working this out,” he said, in a tweet published late on June 14.
The tweet comes amid rampant speculation on social media among crypto market participants that Three Arrows is has been negatively impacted by recent crypto market conditions to the point that it is now facing insolvency.
The fund sustained significant losses during the collapse of the Terra ecosystem last month, after investing heavily in its native token LUNA, and is now facing further market turbulence after crypto lender Celsius paused withdrawals on Monday.
Further details on Three Arrows’ financial position have not yet come to light. The company was contacted by The Block for comment but did not respond by press time.
About Author
Ryan is The Block’s fintech editor. Before joining he worked at Financial News, and has also written for the likes of Wired, Sifted and AltFi.
Source: https://www.theblock.co/linked/152087/three-arrows-capital-boss-breaks-silence-amid-insolvency-rumors?utm_source=rss&utm_medium=rss