Kyle Davies expressed his thoughts on the current Future Exchange(FTX) platform controversy by drawing comparisons to the TerraLuna controversy that occurred in the cryptocurrency community earlier this year. Another 3AC founder who voiced his support for Lyle did so by criticizing FTX’s dubious capital, which was marketed as having “great returns with no risks.”
Kyle stated in a tweet that it is now obvious that FTX was after the investor’s position, which resulted in the loss of their funds. “ We understand that FTX/Alamanda hunted our positions, but at the end of the day, we have lost our money,” Davies stated.
Regardless of what he thinks about the topic, he thinks that platform investors lack capacity because the company is already in a mess and is concentrating on the liquidation process. He continued, “At the moment, we do not manage the company; a liquidation procedure is underway and will be completed in good time for all parties.”
The 3AC founder reflected on his encounter with the Luna a few months back and also shared his thoughts on what investors might expect when it comes to the current crypto market trends where the market conditions show mixed reactions. In a statement, Davies was quoted as stating, “The cosmos works beautifully. Over the past year, I have experienced both my highest highs and lowest lows. Many people who are reading this have, I’m sure. It’s worth it for humanity, community, and happiness.
It appears that Davies was in a position to handle the TerraLuna aftermath despite the all-at-once FTX problems, yet he nonetheless found himself in the middle of the FTX story. Similar views were held by the 3AC founders before some cryptocurrency firms started to derail them. They were early adopters of the digital currency frenzy.
The 3AC creators believe that their tackle on Luna’s past market situation was so clear that they should have focused on mechanics, and that their expected outcomes would be different.