Three Arrows Capital’s Su Zhu Has Ditched Ethereum
Three Arrows Capital CEO Su Zhu berated Ethereum and its community in a scathing tweet.
The cryptocurrency billionaire claims he has definitely ditched the second largest cryptocurrency due to its exclusion for newcomers.
Zhu takes issue with exorbitant fees on the Ethereum blockchain, and the unwillingness of some of the most influential voices within the community to address that problem.
In the past 24 hours, Zhu has also retweeted various tweets criticizing Ether.
Earlier today, an Ethereum address associated with Three Arrows Capital sent roughly $77 million worth of ETH to the FTX exchange.
In early November, Three Arrows Capital (3AC) was announced as one of the investors in Blizzard, a new fund whose objective is to promote the development of the “Ethereum killer” Avalanche.
As reported by U.Today, the AVAX price hit a new all-time high of $138. Along with Solana, Cardano and Binance Smart Chain, Avalanche has benefited from Ethereum’s high fees that remain a major roadblock to the blockchain’s widespread adoption.
Zhu, who started 3AC with his high school classmate Kyle Davies, is one of the largest crypto holders in the world.
