Three Arrows Capital CEO Su Zhu Criticized Ethereum

by in Blockchain News

Ethereum fees criticism

Crypto trader, researcher and investor, the CEO and CIO of the hedge fund manager Three Arrows Capital, Su Zhu announced leaving Ethereum, although he supported the protocol previously. In a tweet, Zhu said Ethereum left its users and no longer supports them as none of the new users can afford the chain because of high transaction fees.

Related: Ethereum's Open Interest Hits a New All-Time High

In a series of Tweets, Zhu says Ethereum culture suffers greatly as a result of the Founder's Dilemma. Now, when everyone is rich, they seem to have forgotten their original mission, the executive says. The number of likes of the tweet shows that many agree with Zhu.

Three Arrows Capital CEO says Ethereum promised a vision of the future but then demanded to pay $100-$1000 to enjoy it, also telling people they should have been smart enough and buy Ether at $10.

Decentralized exchange DYDX creator Antonio Juliano commented on Zhu's post, expressing his agreement but saying that no other chain is as decentralized and secure as Ethereum, but it needs some improvements. In a later tweet, Zhu wrote Ethereum and Bitcoin supporters have too much nostalgia, but there are new and promising projects and how old the protocol is doesn't really matter.