LayerZero co-founder and CEO Bryan Pellegrino accused Kyle Davies, co-founder of the now-defunct Three Arrows Capital (3AC), of trying to persuade his firm to transfer its entire treasury shortly before the liquidation of 3AC on March 21. Pellegrino alleged that Davies tried to get the entire treasury of LayerZero, “promising better rates than other borrowers as a last-gasp effort.” The LayerZero CEO further claimed that 3AC resolved to borrow funds from various firms, even though the firm knew it was financially unable to pay back the loans amid private preparation for its liquidation. Pellegrino criticized Davies for misleading and taking advantage of friends, associates, and partners.
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