Ethereum founder Vitalik Buterin mocks Th…

Even more embarrassing than bragging about a luxury yacht is bragging about a luxury yacht that you don’t own. According to a Terra whistleblower calling himself “FatMan” from a “verified source,” Zhu Su, CEO of hedge fund Three Arrows Capital (3AC), is said to have bought a “superyacht” with borrowed money to brag about it. . investors

“A verified source has confirmed that Zhu Su owned a $50 million mega yacht, which he showed off to friends and potential investors to show off his lavish wealth.” like fat. “This yacht was purchased with borrowed money and 3AC was unable to pay for it beyond the deposit.”

Terra Chaos drags hedge funds down

Three Arrows Capital was among the largest investors in the crypto market. Triggered by the Terra Crash, 3AC is said to have been in financial difficulties. The hedge fund had staked large sums in UST and LUNA tokens, the loss is said to be in the billions.

There is already speculation that the hedge fund is about to default. Three Arrows Capital is said to have been unable to cover the purchase of the luxury yacht.

Ethereum founders joke

Vitalik Buterin used this as an opportunity to mocking Zhu Su on Twitter. “There are much more honorable ways to burn $50 million to impress people than buying a superyacht,” the Ethereum founder said. Buterin mentioned participation in the Web 3.0 Gitcoin project as an option.

Buterin: “As a social movement, we should try to make visions like this a reality and not just repeat the unimaginative rubbish of the 20th century, just with ourselves on top.” Buterin jokingly added that “all Gitcoin match pool donors deserve big, beautiful statues in the metaverse honoring their contributions.”