Wintermute CEO tells 3AC co-founder to ‘stay wiped out’ amid ‘redemption’ attempt


Wintermute CEO Evgeny Gaevoy said Three Arrows Capital co-founder Su Zhu should “stay wiped out” and not attempt to use the current market situation for his “redemption.”

Gaevoy’s tweet was a response to the 3AC co-founder’s Nov. 9 Twitter thread from where he spoke about what he has been doing since Three Arrows Capital imploded.

Zhu attempts comeback

The co-founder of the bankrupt crypto-focused hedge fund said the collapse of the firm was akin to suddenly being “wiped out” by a wave during surfing.  He continued that the pain he felt was as difficult as the “ostracization and demonization” that ensued after his business collapsed.

Zhu Su thanked those who supported him, adding that time would show that they were “steadfast in integrity” but “wrongly positioned.”

He also revealed that he has been learning new languages and catching up with friends alongside other activities. He said that part of him wants to “live a quiet life in the woods,” but he also feels the urge “to rebuild with fresh purpose.”

Zhu Su was famous in the crypto space for his supercycle prediction that Bitcoin could hit $2.5 million. While he has admitted that his projections were wrong, his role in the collapse of 3AC has polarised the community.

The founders of the bankrupt hedge fund have been accused of mismanaging customers’ funds and being uncooperative with the court-appointed liquidators Teneo.

Community reacts negatively to Zhu’s musing

The crypto community has criticized Zhu Su, saying that FTX’s failure does not make 3AC better. Some in the Twitter community also pointed to the lack of remorse in the tweet, with Zhu Su failing to acknowledge or apologize to those who lost millions due to his actions.

Some within the community said they forgave him, advising him to reach out directly to those he might have hurt.

Meanwhile, Zhu Su is not the only failed crypto founder that attempted a comeback following FTX’s implosion. Terra’s founder, Do Kwon, also joined Cobie’s UpOnly TV live stream to discuss the LUNA and UST crash.


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