Crypto Hedge Fund Manager Zhu Su Re-Enters ETH Long Position
CryptoNewsTerminal Staff08 Jun, 2024
Crypto Hedge Fund Manager Zhu Su Re-Enters ETH Long Position
Zhu Su, co-founder of the now-bankrupt crypto hedge fund Three Arrows Capital (3AC) and founder of the crypto exchange OPNX, announced on Twitter recently that he had "successfully re-entered an ETH long position at $3,700. Reduced my SOL, LDO, BLUR positions." Su's announcement had a mixed response from the community, with some praising him for his market timing and others criticizing him for his prior involvement with 3AC. 3AC filed for bankruptcy in July 2022. At the time, the fund was one of the largest in the crypto space, with billions of dollars in assets under management. Its collapse was a major blow to the crypto market, and it contributed to the sell-off that led to the current bear market.
