Three Arrows Capital co-founder and CEO Su Zhu, in a recent tweet, criticized the Ethereum transaction fee and said that he was leaving this network. Not long after, the company acquired $400 million worth of Ethereum (ETH) from various major centralized exchanges.
The total Ethereum value of the two days is at the level of $ 400 million. The fund recently received 27,000 Ethereum worth approximately $108 million. A day ago, 14 thousand ETH worth approximately 56 million dollars was purchased. Three days ago, a large number of small transactions were made between 2,000 ETH and 12,000 ETH. This move of the fund may be related to the low Ethereum price.
There seems to be a complex relationship between Three Arrows Capital and Ethereum. The founder and CEO of the company, Su Zhu, has announced that he has decided to leave Ethereum despite all the support he has provided in the past. After this statement, he received criticism from some names. However, the company interestingly bought large quantities of Ethereum.