Three Arrows Capital buys Ethereum worth $ 56 million, despite CEO ‘love and abandonment’

Like many cryptocurrencies, Ethereum It has been growing in value since last year. But not without considerable volatility, price corrections, and speculation. At press time, the token was trading around the $ 3,820 mark, down 4.5%.

Well, for some this might be scary, but for prominent / long-term investors this indicates a “Buy-the-dip“Stage.

Shopping

Crypto hedge fund Capital of three arrows (3AC) founded in 2012 by Su Zhu y Kyle Davies, supposedly received Ether worth 56 million dollars today. According to Etherscan, transferred a total of 14,833 ETH (approximately $ 56 million) from Binance and Coinbase to his wallet.

(Wallet address: 0x4862733b5fddfd35f35ea8ccf08f5045e57388b3)

Consider the following table:

Wu Blockchain, one more Chinese crypto reporter tweeted:

“Since the transfer of 91,477 ETH from the exchange on December 7, Three Arrow Capital has frequently interacted with the exchange, with a total of 22,416 ETH transferred from the exchange in the past week.”

However, this was not the first time that the company acquired ETH despite a reduction, as mentioned above. Earlier this week, the company received $ 400 million in ether weekend. 97,477 ETH transferred from cryptocurrency exchanges FTX, Binance and Coinbase to A wallet marked by Nansen as belonging to Three Arrows Capital.

Surprisingly, Three Arrows’ Zhu responded to the tweet saying that “100k eth is dust” and that “there is more to come”. This shows its bullish mindset regarding the altcoin.

The wallet shows that 3AC made the majority of its purchases during the weekend’s price drop.

Smells like fish

It certainly does what different users highlighted in the same thread. Consider this: in a diatriba anti-ETH Between November 20-22, Zhu Su tweeted about why he had “ditched Ethereum despite supporting it in the past.”

During the tweet storm, Zhu claimed that the Ethereum culture “suffers greatly from the founders’ dilemma” and that “everyone is already too rich to remember what they originally set out to do.”

However, after attracting wide attention, he made a Your turn, saying that he wanted to “soften” his original stance and “I love Ethereum and what it stands for.”

What does this mean? Well this move got a lot of hate and trolls on this thread. A Twitter profile set:

“He tricked ETH with his first tweet, hopefully, to lower the price, and has since gone back to buying lower eth.”

Create FUD first (to lower the price hopefully) and then buy it back at a lower price. Is this a new strategy here?

This is a machine translation of our English version.

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Three Arrows Capital buys Ethereum worth $ 56 million, despite CEO ‘love and abandonment’

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