Pellegrino asserted that 3AC was financially unstable when proposing the arrangement to LayerZero and criticized Davies for misleading and taking advantage of associates and partners.
LayerZero co-founder and CEO Bryan Pellegrino has accused Kyle Davies of Three Arrows Capital of trying to persuade LayerZero to transfer its entire treasury to the now-defunct crypto hedge fund shortly before its collapse.
Pellegrino made the allegation in reply to an X post on Thursday, claiming that Davies promised the interoperability protocol LayerZero “better rates than other borrowers” in a “last gasp effort” before the collapse.
The LayerZero chief said: “Getting liquidated is one thing. Lying and exploiting your friends, portcos, and people around you is another.”
