Ethereum’s Vitalik Criticizes 3AC’s Co-founder Alleged Yacht Purchase, Says There are More Honorable Ways to Burn $50M

Summary:

• Ethereum co-founder, Vitalik Buterin, has thrown some shade into Su Zhu’s alleged $50 million yacht purchase.
• According to Vitalik, there are better ways of burning $50 million, such as becoming a Gitcoin grants matching partner.
• Rumors of Su Zhu’s yacht purchase have elicited mixed reactions on Twitter.

Ethereum’s co-founder, Vitalik Buterin, has chimed in on rumors of Three Arrows Capital co-founder, Su Zhu, owning a $50 million yacht despite the hedge fund’s financial woes.

There Are Far More Honorable Ways to Burn $50 Million – Vitalik Buterin.

Vitalik Buterin shared his insights into the alleged $50 million yacht purchase by Su Zhu through the following tweet. According to Mr. Buterin, there are ‘far more honorable ways’ of burning $50 million ‘to impress people than buying a superyacht.’ He suggests a better option would be to become a Gitcoin grants marching partner.

There are far more honorable ways to burn $50m to impress people than buying a superyacht.

Like becoming a @gitcoin grants matching partner! Here are the matching partners for the current round: pic.twitter.com/GgzJh9pxLV

— vitalik.eth (@VitalikButerin) June 23, 2022

Gitcoin Donors Deserve Big Beautiful Statues in the MetaVerse – Vitalik Buterin.

In addition, Mr. Buterin was for the idea that Gitcoin donors should get ‘big beautiful statues in the metaverse honoring their contributions.’ He also added that he had this vision of a world where wealth was used to support the public good. He said:

I want to make our world more like the Yudkowskian dath ilan utopia where instead of rich people’s desire for wealth signaling going into wasteful zero sum crap, it goes into supporting public goods.

As a frontier social movement, we’re supposed to be trying to execute on visions like this, not just repeating unimaginative 20th century crap except with ourselves at the top.

Crypto Twitter Chimes in on Su Zhu’s Alleged Yacht Purchase.

Circling back to Su Zhu’s alleged $50 million yacht purchase, the crypto Twitter community has provided various insights on the topic.

In one theory about the yacht, crypto community member @FatManTerra suggested that the Three Arrows Capital co-founder would show it off to friends and prospective investors to signal his luxurious wealth. However, the yacht was allegedly purchased with borrowed money, and Three Arrows Capital could not pay for it beyond the down payment.

FatMan has since revised his findings to state that the Su Zhu showed off pictures of the yacht, which was due to be delivered next month.

The Block’s VP of Research, Larry Cermak, seconded FatMan’s revised yacht story as seen in the following screenshot.

The team at Autism Capital also provided additional insights into the yacht story by stating that it was a San Lorenzo 52STEEL worth $43.173 million, as seen in the following tweet.

Here is the only journalism that matters. Su Zhu’s yacht was a San Lorenzo 52STEEL. It cost him $43,173,390 American dollars. It has five decks and is considered Mauro Michieli’s crowning achievement as a designer. It has stunning whites and beiges and smells of fresh eucalyptus. pic.twitter.com/vAr14sMxka

— Autism Capital 🧩 (@AutismCapital) June 23, 2022