Su Zhu, founder of Three Arrows Capital, one of the companies that went bankrupt after the chain reaction following the collapse of cryptocurrency exchange FTX, has launched a memecoin called Three Arrowz Capital (3AC).
Launch of Memecoin 3AC
Promotional posts for the altcoin called Three Arrowz Capital (3AC) were published from Su Zhu's official X account. Additionally, his own exchange OX and MEXC and Gateio exchanges decided to list this memecoin.
Community Reaction
However, Su Zhu is currently on the run and has not been prosecuted for alleged crimes related to his collapsed company Three Arrows Capital. Similarly, Alex Mashinsky, the CEO of the bankrupt Celsius, is currently in prison in the US. The cryptocurrency community is skeptical of the 3AC token due to its launch by Su Zhu and its nature as a memecoin.
Current Situation
At the time of writing, the token has been trading on Gateio for about 25 minutes and has shown a 14% decline so far.
The launch of the 3AC memecoin is causing controversy in the crypto community due to its origins and Su Zhu's current status.
Comments