The great and terrifying thing about DeFi is that everything is on-chain: if you know someone’s address, you can keep track of their investments and their other interactions with the Ethereum ecosystem.
Due to the fact that you can time the announcement of investments with transactions, sometimes linking addresses, funds and investors in the space becomes a bit trivial.
I looked at Three Arrows Capital’s main address last night and noticed that when it dropped in price, the crypto fund accumulated a large amount of LINK.
The three Capital arrows accumulated a large amount of LINK
Three Arrows Capital is by far one of the biggest funds in the space: they hold hundreds of millions of Grayscale Bitcoin Trust shares, hold a large chunk of Deribit potentially worth many billions of dollars, and have countless investments. investment in space.
They are also major Chainlink (LINK) holders.
Last night, when Bitcoin flash dropped about $ 1,000 over a period of one minute, big bids were launched on all cryptocurrencies.
For example, LINK fell from $ 14.00 to $ 12.50 in that timeframe, but quickly recovered back to pre-crash levels.
The downside bid, it seems, is Three Arrows Capital.
Minutes after the discount took place, the company received 351.147 LINK from a Binance withdrawal address. About fifty minutes later, another 400,000 LINK was received for a total of 751,147 LINK, worth about $ 10,100,000. You can see the deals below.
Su Zhu, CIO, and CEO of Three Arrows Capital, liked the tweet I shared with my feed about deals.
Is that a confirmation?
As of the time of this writing, Three Arrows Capital holds about $ 14 million LINK on that one address, currently being lent to Aave. The collateral is then used to borrow the stablecoin.
Not the only VC accumulator
Three Arrows Capital is not the only fund that is amassing large amounts of Ethereum-based money.
Jump Trading, a large Chicago-based monopoly firm that has Ethereum worth more than $ 18.5 million, along with millions of dollars in Serum, Compound, Keep Network, and HXRO. The company also has several types of investments in Numeraire, Orchid, Maker and Huobi Token.
Since they are market makers, it is unclear exactly what this means for the investments they are making. Even so, it seems that investments in SRM, Keep Network, and several other coins have a more long-term role as opposed to the hedge.
The great (and somewhat frightening) thing about DeFi is that we can see everything going on on the chain and connect the address to identity and company.
Below is a breakdown of known Ethereum addresses for Three Arrows Capital, Polychain Capital and Jump Trading.
– Nick C. (@ n2ckchong) November 18, 2020
Polychain Capital has also had great success on Yearn.finance (YFI) as we mentioned before. The company owns about two percent of the total amount in circulation.
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