One for the crypto haters

[Gollygordon]

Speaking of shitbaggery, Chris Burniske (thoughtful and well informed fellow) strongly hinting that 3 Arrows Capital are in big trouble.

https://twitter.com/cburniske/status...bazxHcWN4A9Fow

Couldn't happen to a nicer bunch, if true. I'd love these parasites to disappear as soon as possible. Some gems from their founders Su Zhu and Kyle Davies below:

https://twitter.com/Lubow2/status/15...bazxHcWN4A9Fow

[traineeinvestor]

Just to be clear, this was a technical issue that was resolved in under three hours. Only withdrawals on the Bitcoin network itself were impacted and users could withdraw wrapped BTC on Ethereum and BSC just fine, as well as all other crypto assets.

Standard shitbaggery by the Guardian to deliberately mislead by including this detail in an article about a very serious situation on another platform.

Thanks for the clarification - I should have verified from another source before posting a link to the Guardian.

[Gollygordon]

Haha... Issue I have these days is finding a source that doesn't do exactly the same thing...

[Elefant&Castle]

https://youtu.be/BH5-rSxilxo

[Gollygordon]

Further to 3AC chat above, rumours now circulating more explicitly that they have failed to respond to margin calls. Picture below demonstrating them trying to drum up liquidity to dump stETH into as it continues to fall off peg with ETH.

[HWH]

Further to 3AC chat above, rumours now circulating more explicitly that they have failed to respond to margin calls.

Wowww!!! Never a dull moment in crypto

[HWH]

I must say though I have found Su Zhu’s long form content to be thoughtful and informative but maybe I am too credulous. His Twitter feed certainly shows clear signs of predation LOL

[Gollygordon]

I enjoy his podcasts. Clearly super bright and I think back in the day he was sincere.

[Gollygordon]

Wow. Rumours apparently confirmed.

[Gollygordon]

Feel a bit bad for all the crap I've been giving him over the last 6 months. I thought he was trying to rustle up exit liquidity with his bullish commentary, turns out he was just irresponsibly long. Trying to work out how such a large and previously successful entity who surely were aware of the cyclical nature of this game could be caught with their pants down...