Three Arrows Capital CEO Su Zhu scolded the leading altcoin Ethereum (ETH) and its community with a harsh tweet:
Yes, I abandoned Ethereum even though I supported it in the past. Yes, Ethereum has abandoned its users despite its support in the past. While zero newcomers can afford the chain, the idea of self-gratification to watch combustion and prepare purity tests is disgusting.
Su Zhu slams the leading altcoin project and announces that she will leave
The cryptocurrency billionaire says he will definitely abandon the leading altcoin project because it is too exclusionary for newcomers. Su Zhu criticizes the exorbitant fees on the Ethereum Blockchain and the reluctance of some of the most influential voices in the community to address this issue. In the past 24 hours, the crypto billionaire has also retweeted several tweets criticizing Ethereum.
Earlier today, an Ethereum address associated with Three Arrows Capital sent approximately $77 million worth of ETH to the FTX exchange. Earlier in November, Three Arrows Capital (3AC) was announced as one of the investors in Blizzard, a new fund whose purpose is to promote the development of “Ethereum killer” Avalanche (AVAX).
As we reported , AVAX price set a new all-time high (ATH) at $138. According to crypto analyst Alex Dovbnya, Avalanche, along with Solana (SOL), Cardano (ADA) and Binance Smart Chain (BSC), is taking advantage of Ethereum’s high fees that remain the biggest barrier to blockchain adoption. Su Zhu, who started 3AC with her high school classmate Kyle Davies, is among the world’s largest cryptocurrency holders.