3AC co-founder claims DCG and FTX conspired to attack LUNA and stETH

Su Zhu, co-founder of Three Arrows Capital (3AC), has accused Digital Currency Group (DCG) and FTX of conspiring to attack LUNA and stETH and engaging in misdirection.

Zhu’s allegations follow the bankruptcy of 3AC and the stETH depeg incident, which saw the Lido-offered token trade below ETH’s price, raising concerns about cascading effects.

Here's rough summary of dcg situation

1) they conspired w FTX to attack Luna and steth and made a fair bit doing so

2) they took substantial losses in the summer from our bankruptcy as well as Babel, and other firms involved in gbtc

3) they could've calmly restructured then

— 朱溯 🐂 (@zhusu) January 3, 2023

Three users of cryptocurrency exchange Gemini have also filed a request for class-action arbitration against DCG and Genesis Global Capital in response to Gemini halting its Earn program after Genesis froze withdrawals.

Earn Update: An Open Letter to @BarrySilbert pic.twitter.com/kouAviTho4

— Cameron Winklevoss (@cameron) January 2, 2023

In response, DCG founder Barry Silbert denied any missed payments and claimed that DCG had made a proposal on 29 December but had not received a response.

Liquidators have filed a $30 million claim for a super yacht as part of the ongoing investigation into 3AC.

TagsCryptoFTX