Zhu Su, a co-founder of the now-defunct cryptocurrency hedge fund Three Arrows Capital, is suing Sam Bankman-Fried for alleged media influence, control, and deflection of difficult questions.
Zhu Su took Twitter today to discuss why he chose to be more active on social media after the FTX meltdown than before. He claims he has been “hunted down” since his July interview with Bloomberg. He also claimed that the SBF had some sort of media control.
Had a call yesterday w someone who asked “how come you and Do Kwon came back right after FTX went down, is it just to deflect from your own issues?”
I replied Do Kwon has been building on Luna classic + luna2 literally continuously and hasn’t taken more than a week Twitter break
— Zhu Su 🔺 (@zhusu) December 9, 2022
Su claimed that “at the time, my own advisors didn’t want me to say it (the truth) because it might have bad optics and be perceived as a deflection.”
After some time SBF answered the post.In which he denied the implications but admitted to a number of errors.
I made a lot of big mistakes this year.
But this wasn’t one of them. There’s no evidence, because it didn’t happen. Please, please, focus on your own house. https://t.co/tlcQu9zFdf
— SBF (@SBF_FTX) December 9, 2022
Zhu Su called Sam Bankman-Fried a psychopath
The cryptocurrency executive has returned to Twitter to share his latest thoughts on the FTX crisis and collapse. In a thread posted on Tuesday, he addresses five different “narratives” that he claims are “wrong.”
He made it clear what, in his opinion, led to FTX’s demise, charged that former Alameda Research CEO Caroline Ellison killed the value of FTX’s token, FTT, and reiterated his assertion that Sam Bankman-Fried was a “psychopath”who was never a rival.
1 “CZ wants to be the savior of crypto.”
Crypto doesn’t need saving. Crypto is fine. It’s the beauty of decentralization. We are just part of it. We want to help other good projects that may be in a cash crunch because of recent events. It’s in our collective best interest.
— CZ 🔶 Binance (@cz_binance) December 6, 2022
Similar claims were made last month by Zhu. In which he argued that in the general market downturn, cryptocurrency is the “only stable thing.” Zhu is unrelentingly optimistic about the future of cryptocurrencies. However, he is full of contempt for Sam Bankman-Fried and the now-defunct FTX.
FTX filed for bankruptcy
After FTX filed for bankruptcy on November 11th, Sam Bankman-Fried (SBF) resigned as CEO. A probe into the company’s improper handling of customer money is currently ongoing. The new CEO of FTX, John Ray, testified before the bankruptcy court.
“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.”
However, according to Zhu, Caroline Ellison of Alameda is actually to blame for the FTT price decline. It was due to a tweet that she made on November 6. In which she was offering to “happily” purchase all of CZ’s FTT for $22 per token.
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