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Three Arrows Capital, Crypto Hedge Fund Acquired $84 Million of Ethereum ($ETH) During Crash

Singapore cryptocurrency hedge fund Three Arrows Capital makes has over $84 million investment on $ETH, as its price crashes below the $4,000 mark.

Furthermore, blockchain journalist Colin Wu, explains that Etherscan data reveals how Three Arrows Capital withdraws millions. Of course, from cryptocurrency trading platforms Binance and Coinbase onto its wallet.

Also, The journalist maintains that Three Arrows Capital transfers 14,833 ETH, worth around $56 million. Of course, transfering from the exchanges to its wallet. So, During the time when price of ETH drops from $4,400 to $3,700. Notably, Three Arrows Capital moves 22,416 ETH from exchanges to its wallet.

“Since the transfer of 91,477 ETH from the exchange on December 7,..”
*Three Arrow Capital has frequently interacted with the exchange,…”
“and a total of 22,416 ETH has been transferred from the exchange in the past week.”
— Wu Blockchain (@WuBlockchain) December 14, 2021

More so, These transactions are coming after Three Arrows Capital moves 91,477 Ether from exchanges onto its wallet on December 7. Which is, shortly after The firm’s CEO Su Zhu mentions he has
“abandoned Ethereum despite supporting it in the past,”

Then, believing “Ethereum has abandoned its users despite supporting them in the past.”

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