3AC co-founder Zhu Su among creditors; Files $5M claim against own company

Sahana Kiran
Source – Unsplash

While 2021 was all about the big NFT boom and meme coins, 2022 will be known as the year of bankruptcies. Starting with Three Arrows Capital or 3AC, Voyager, and Celsius, an array of firms filed for bankruptcy during this bear market. While the platforms above have been dealing with it their way, 3AC has been called out for being suspicious. Zhu Su and Kyle Davies have been missing, and there has been no information regarding their whereabouts. Despite maintaining a low profile, Zhu Su entered his name into the list of creditors.

Twitter user who goes by the name Soldman Gachs who is a creditor to 3AC, revealed that Zhu Su was also on the list of creditors. The co-founder reportedly filed a claim for $5 million. This was a shock to many as he was a creditor against his firm, 3AC.

ThreeAC Limited, the Investment Manager of the Fund, has also filed a claim for $25 million. This would make the fund one of the largest 3AC creditors. The list included DCG, Voyager, Algorand, DeFiance, Celsius, BlockFi, CoinList, SBI Crypto, Moonbeam Network, Galaxy Digital, and BitGo.

The total value of all these claims against 3AC was $2.8 billion. This wasn’t all, as more was yet to come.

Furthermore, it should also be noted that all the 3AC creditors are scheduled to meet today and address the proceedings. Teneo Restructuring, a firm appointed by the British Virgin Islands court, would oversee the meeting.

Since Zhu Su is one of the creditors, as per Soldman Gachs, the possibility of him being present at the meeting was high.

Crypto community takes a dig at 3AC founder

While this has brought about anxiety among several, a few others decided to take a jab at Zhu Su for his latest move.

This undoubtedly ticked off a meme fest.