Zhu Su: SBF has been insolvent since July
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On December 1, Zhu Su, the former founder of Three Arrows Capital, wrote that FTX and Alameda have been mixed up from the beginning. SBF has been insolvent since July, and he has a lot of crazy behaviors, including: fake rescue of lenders; raising the next round of funds to anger former investors, etc. Zhu Su also said that knowing the origin of FTT, the entire business model of Alameda/FTX is to provide short-term liquidity to other trading companies at a loss to attract trading volume and traders, and then make profits through predatory free trading. |
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