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Three Arrows Capital (3AC) just wiped out its investment capital of nearly $3 Billions in months. The cause of the collapse like through high leverage decentralized finance (DeFi) and high debt ratios.
Let's explore why 3AC instantly collapses.
Su Zhu and Kyle Davies are the founders of 3AC. The company was founded in 2012 to provide superior risk-adjusted returns. Ironically, the risk did not adjust properly, and the company went out of business instantly.
Investment Strategy
We do not know how 3AC invest their funds, but we do know they invested in:
Own houses:
How to Run a Crypto VC like a Criminal
Step 1: run
Step 2: sue your own company
Step 3: aks your spouse to join the lawsuit
Bankruptcy Document
Thanks to the internet and the transparency of the Singapore law, you can learn a lot from the court document on what happened on 3AC.
Some breakdown of the investment portfolio:
Genesis - $2.3B
Rest of the 24 companies - $1.2B
Founders on the run while suing their own company.
Where is My Money
Try to ask where is my money:
Many companies invest in 3AC forces to liquidate. DRB Panama is one of them.
Where are the Founders
Founders ran away while filing to sue their own company.
And they enjoy their private jet on investors' cash
Anyone who Touches 3AC is Cursed
Coinbase just announced they did not have invested 3AC.
True Degen
3AC brings all true Degen together to blow up:
And what is up with Kelly Chen?
More to Come
Buy me a coffee if you want to support my writing.
Photo by Ricardo Arce Unsplash
Note: the post was shared on multiple platformsYou can refer my previous article lists
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2022 Prediction #2: L2 Bridges
2022 Prediction #3: Zero-Knowledge Proofs or ZKPs
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2022 Prediction #5: Institutional Crypto Adoption
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-------------------------------------------------------------------------------------Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.