Three Arrows Capital’s collapse: A grim end to the Zhupercycle

Overwhelming confidence, risk management negligence, and a chain of unfortunate events lead to the collapse of one of the industry's most renowned funds, Three Arrows Capital.

One of the most renowned funds in the crypto space, Three Allows Capital, collapsed during last week’s market meltdown. 3AC’s founder and CIO, Su Zhu, has long touted his view of the super cycle – a crypto market without any massive drawdowns, slow and steady, up towards the right. The last months have proven his thesis wrong, with bitcoin experiencing its worst quarter ever, and in late May, Zhu conceived that his view had been wrong.

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