CEO of LayerZero: 3AC management tried to lure out the treasury of the project shortly before the collapse

Brian Pellegrino, CEO of LayerZero, accused Kyle Davis, co-founder of the Three Arrows Capital hedge fund, of trying to lure out the project's coffers shortly before the firm's collapse.

According to the entrepreneur, representatives of 3AC contacted him a few days before the bankruptcy. Davis, in particular, offered to place the company's funds in hedge fund accounts at an abnormally high interest rate.

Pellegrino claims that Three Arrows Capital was already insolvent by that time and the co-founders of the firm were aware of what was happening. The management hid this fact, he stressed. The entrepreneur said that liquidating a company is one thing, but "deceiving friends and exploiting people around" is quite another.

The CEO of LayerZero announced his statement in response to Davis' post, in which he once again refused to apologize to investors who lost billions of dollars. On his account on the social network X (formerly Twitter), he published a post in which he stressed that he would never regret what happened.

"We were traders who firmly believed that going up was forever. And we still believe it. The lenders decided to put the funds of low-risk clients in a highly volatile sector. Pointing a finger at someone is for cowards," Davis said.

Earlier, the co-founder of Three Arrows Capital gave an interview on one of the YouTube podcasts. He stated that he does not feel regret over the collapse of the company. The entrepreneur also intends to avoid imprisonment, which is why he does not plan to return to Singapore and renounced his US citizenship.

Source: https://incrypted.com/rukovodstvo-3ac-pytalos-vymanyt-u-layerzero-kaznu-proekta-nezadolgo-do-kraha/