3AC Founders Launch Memecoin, Which Quickly Crashes

The co-founders of the now-defunct Three Arrows Capital (3AC), Su Zhu and Kyle Davies, have introduced a memecoin called "Three Arrowz Capitel."

This comes after their hedge fund collapsed, leaving them owing billions to creditors, with Su Zhu having faced legal trouble in Singapore for disregarding court orders.

With a name deliberately misspelled to reference their failed fund, the pair is promoting the coin through their social media and a trading-focused Telegram channel.

However, much of the token’s supply remains in the hands of insiders—approximately 84%—with nearly 72% sitting in a wallet labeled for the team and insiders. A 1% tax is applied to every trade, which the creators claim will be reinvested to help the community swap the token.

Since its peak price of $0.192 on September 27, the token has plummeted over 70% and is currently trading at around $0.05. The price chart exhibits signs of a pump-and-dump scheme, with just 9.3% of the token’s supply available on Uniswap, leaving non-insiders with a small percentage of the holdings.

In the last 24 hours alone, it has shed more than 20% of its value, raising questions about the founders’ priorities following the collapse of 3AC.