Three Arrow Capital, known as one of the companies supporting the most popular altcoin Terra (LUNA), has sent 10 thousand Ethereum (ETH) to FTX, according to Etherscan data. Here are the details of the transaction and the relationship of Three Arrow Capital and LUNA…
Three Arrow Capital sent ETH to FTX
According to Etherscan, a platform for Ethereum transactions, hedge fund Threee Arrow Capital’s An address known to belong to cryptocurrency exchange FTX sent 10,000 Ethereum (ETH). As we reported on Kriptokoin.com, the CEO of Three Arrow Capital promoted the use of yield farming protocol Anchor by supporting the Terra ecosystem.
Although the meaning of this transaction is not known, exchanges usually send crypto for sale. Three Arrow Capital’s support for Terra is known. Su Zhu, the co-founder of Three Arrows Capital, who made statements especially about Terra, which shocked the market with its collapse last week, broke his silence on the collapse of stablecoin TerraUSD (UST) and Luna, an ecosystem it supports.
Relationship between Three Arrow Capital and LUNA
After UST, the algorithmic stablecoin at the core of Terra Blockchain, lost parity to the US dollar this week, he tweeted on Friday, “It’s been an incredible week and it’s true. the words are hard to find,” he wrote. Zhu acknowledged that something had gone wrong. He added that critics have flagged potential risks and should move more slowly in hopes of making the ecosystem safer.
He also said that criticism of blockchain projects, which are often dismissed by loyal supporters as “fear, uncertainty and doubt” or FUD, should not be dismissed. Instead, it should be encouraged, and such criticism should be met with genuine rebuttals rather than dismissal, according to Zhu. Earlier this month, Zhu encouraged his Twitter followers to take out loans using their Bitcoin (BTC) as collateral. He suggested they use the proceeds to purchase UST and stake in Anchor Protocol for 18-20 percent returns. Anyone who followed this advice and did not sell would lose almost all of his money and be unable to repay the loan. Zhu has since deleted this tweet.
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