On March 14, Zhu Su, co-founder of Three Arrows Capital (3AC), took to X to accuse cryptocurrency exchange FTX of unauthorized liquidation of a large amount of crypto assets held by 3AC on the platform. According to Zhu, in May 2022, FTX converted these assets into USD without the company's consent.
Zhu Su emphasized that these funds were not loans provided to FTX, meaning the exchange had no right to use or convert them at its discretion. He also stated that FTX’s actions caused significant losses to 3AC, especially during a period of extreme volatility in the crypto market, which saw several major collapses.
Beyond his allegations against FTX, Zhu Su also took a firm stance on the trial of Sam Bankman-Fried (SBF), the former CEO of FTX. He asserted that SBF does not deserve any leniency and called for the court to impose a prison sentence of up to 250 years on the disgraced FTX founder.
Zhu Su’s statements have sparked widespread attention in the crypto community, as investors closely follow the ongoing legal proceedings surrounding FTX and its key figures.
Read more: U.S. court allows 3AC to increase its claim against FTX to $1.53 billion.