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Report: Biden Admin SHUT DOWN Investigation Into Wuhan Lab Leak Theory

As the evidence piles up pointing toward a Wuhan lab leak being the origin of the coronavirus pandemic, and as it becoming accepted as a mainstream credible likelihood, it has emerged that Joe Biden’s administration SHUT DOWN an investigation into the theory that was initiated under President Trump.
The probe was opened by the State Department under former Secretary of State Mike Pompeo, who has <a href="https://summit.news/2020/05/04/pompeo-says-theres-enormous-evidence-coronavirus-leaked-from-wuhan-lab/">long maintained</a> that the lab leak needs to be looked at in more depth.
CNN (of all outlets) <a href="https://www.cnn.com/2021/05/25/politics/biden-shut-down-trump-effort-coronavirus-chinese-lab/index.html">reports</a> that the main thrust of the investigation was to examine China’s biological weapons program, and determine if it had a “greater role in the pandemic’s origin in Wuhan.”
The report notes that “Officials involved in the effort relied on scientific research as well as public and classified information to probe the lab leak theory, including looking into any possible connection between the virus and the Chinese government’s biological weapons program.”
It continues, “The US government has said that it believes China maintained an offensive biological weapons program even after joining the Biological and Toxin Weapons Convention in 1984. China refutes this.” 
However, before it properly got off the ground, the probe was shut down by Biden officials, who claimed that there were too many concerns about the quality of the evidence.
As we <a href="https://summit.news/2021/05/25/video-biden-white-house-refuses-to-investigate-covid-origin-warns-americans-off-lab-leak-theory/">reported</a> Tuesday, White House Press Secretary Jen Psaki declared that evidence pointing to a Chinese lab leak causing the coronavirus pandemic does not constitute “enough data and information to jump to a conclusion,” and indicated that the US will not conduct its own investigation.
Instead, the Biden administration has thrown its weight behind the World Health Organisation, despite the fact that the health body previously complained that it had <a href="https://summit.news/2020/05/01/pathetic-who-complains-it-has-not-been-invited-to-investigate-coronavirus-outbreak-by-china/">‘not been invited’</a> by China to investigate the outbreak, and has continually been criticised for <a href="https://www.infowars.com/sources-tell-fox-news-who-was-complicit-in-helping-china-cover-up-coronavirus-leak-from-wuhan-lab/">propping up Communist Party talking points</a>.
<div class="vvu3ktOK"><a href="https://www.infowarsstore.com/fizzy-magnesium?ims=cmmha&utm_campaign=FizzyMagnesiumHero&utm_source=Infowars+Hero&utm_medium=banner&utm_content=FizzyMagnesiumHero" target="_blank"><img src="https://api.directus.libertycdn.com/uploads/_/originals/OrangeFizzy-Hero.png" /></a></div>
In addition, after spending months trying to negotiate a visit, WHO officials largely <a href="https://summit.news/2021/02/09/who-absolves-china-of-blame-for-covid-after-visiting-virus-lab-for-just-3-hours/">absolved China of blame</a> for the outbreak after visiting the virus lab in Wuhan for just 3 hours.
Pompeo himself expressed his disgust this week at witnessing government scientists over the past year dismissing the possibility of COVID-19 originating from a lab “when they surely must have seen the same information that I had seen.”
“That includes, certainly, Dr. Fauci as well,” Pompeo noted:
President Trump also issued a statement Tuesday, noting that he was “right” about the lab leak theory:
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Statement from Trump on the origin of the China Virus 
<a href="https://t.co/rJxuCR3Ftg">pic.twitter.com/rJxuCR3Ftg</a>
— Dog Faced Pony Soldier™ (@D0gFacedPony) <a href="https://twitter.com/D0gFacedPony/status/1397239137770610697?ref_src=twsrc%5Etfw">May 25, 2021</a></blockquote>
This week a previously unseen <a href="https://summit.news/2021/05/24/intelligence-report-reveals-wuhan-lab-workers-got-sick-in-november-2019/">US intelligence report</a> revealed that at least three researchers working at the Wuhan Institute of Virology, where coronavirus experiments were being conducted, were hospitalised in mid November 2019 with symptoms matching those of COVID.
It adds to the <a href="https://summit.news/2021/05/24/intelligence-report-reveals-wuhan-lab-workers-got-sick-in-november-2019/">mountains of evidence</a> pointing to the lab leak that has been accumulating for over a year, with prominent scientists and intelligence figures lending their weight to the notion.
With numerous official entities now being forced to backtrack and acknowledge that the lab leak origin is a real possibility, media outlets and fact checkers are <a href="https://summit.news/2021/05/25/washington-post-journalist-forced-to-eat-crow-over-wuhan-lab-leak-theory/">scrambling</a> to <a href="https://summit.news/2021/05/21/politifact-forced-to-pull-fact-check-that-debunked-lab-leak-origin-of-covid/">reverse</a> previous statements on the issue.
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source <a href="https://www.infowars.com/posts/report-biden-admin-shut-down-investigation-into-wuhan-lab-leak-theory">https://www.infowars.com/posts/report-biden-admin-shut-down-investigation-into-wuhan-lab-leak-theory</a>

news Report: Biden Admin SHUT DOWN Investigation Into Wuhan Lab Leak Theory

As the evidence piles up pointing toward a Wuhan lab leak being the origin of the coronavirus pandemic, and as it becoming accepted as a mai...

WATCH: Mob Filmed Jumping On Occupied Police Cruiser In St Louis

Please keep in mind as you watch this video that black folx are literally terrified that white police will shoot them at any moment for any reason without the slightest provocation. 
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As many have already seen, a mob jumped onto a police car after officers broke up a large party in an apartment building in the 1500 block of Washington. An officer was inside the car at the time & a City-wide "Officer in Need of Aid" call was initiated. The group dispersed (1/2) <a href="https://t.co/v1Xm1bhjjy">pic.twitter.com/v1Xm1bhjjy</a>
— St. Louis, MO Police (@SLMPD) <a href="https://twitter.com/SLMPD/status/1396858886175477779?ref_src=twsrc%5Etfw">May 24, 2021</a></blockquote>
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The incident happened early Sunday morning. 
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however, shots were fired in the area shortly after. Thankfully, no one was injured, but the damage to the car was substantial.
We now need your help in identifying these subjects. Anyone w/info can call Dist 4 directly @ 314-444-2500 <a href="https://twitter.com/STLRCS?ref_src=twsrc%5Etfw">@STLRCS</a> at 866-371-TIPS (8477). (2/2) <a href="https://t.co/xd3HyV2VkU">pic.twitter.com/xd3HyV2VkU</a>
— St. Louis, MO Police (@SLMPD) <a href="https://twitter.com/SLMPD/status/1396858890474692608?ref_src=twsrc%5Etfw">May 24, 2021</a></blockquote>
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Here is a clip from the body worn camera of the officer who was inside the vehicle.
Again, anyone w/info can call a 4th Dist. Detective at 314-444-2500 or amy one w/a tip who wants to remain anonymous & is interested in a reward can call <a href="https://twitter.com/STLRCS?ref_src=twsrc%5Etfw">@STLRCS</a> at 866-371-TIPS(8477). <a href="https://t.co/00lnDFy74p">https://t.co/00lnDFy74p</a> <a href="https://t.co/8lhXhCjQE3">pic.twitter.com/8lhXhCjQE3</a>
— St. Louis, MO Police (@SLMPD) <a href="https://twitter.com/SLMPD/status/1396888034054918148?ref_src=twsrc%5Etfw">May 24, 2021</a></blockquote>
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What do you think would happen if these folx disrespected someone like this in their community?
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Locals in Minneapolis pay a very special tribute on the 1 year anniversary of the death of George Floyd.
From <a href="https://www.foxnews.com/us/st-louis-missouri-police-car-mob-with-officer-inside">Fox News, “St. Louis police seeking to identify mob seen jumping on department car with officer inside”</a>:
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Police in St. Louis, Missouri, are asking the public for help identifying members of a mob of people who swarmed and began jumping on a department vehicle while officers were responding in the area to break up a party.
The St. Louis, MO Police Department (SLMPD) received more than a dozen calls early Sunday morning about a party at an apartment on Washington Avenue, FOX 2 Now reported. Officers reportedly responded to find more than 100 revelers.
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But after breaking up the party inside, the crowd made its way outside, where some people soon began climbing and jumping on the police vehicle – while an officer was inside, according to scenes caught on video and shared by the department.
Police said a call for an “officer in need of aid” was initiated and the crowd dispersed. Gunshots went off nearby shortly thereafter, though no one was hurt, police said. SMLPD described the damage to the car as being “substantial.”
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Mayor Tishaura O. Jones said she’s “disappointed” in those who took part and they “will now have to face consequences for their behavior.”
“Let me be clear: You can go out and have a good time without all this nonsense,” Jones said. “If we are committed to building a stronger city, we need to show some courtesy and respect.”
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Our office has reviewed the video of people jumping on our patrol cars this weekend. While I'm thankful <a href="https://twitter.com/SLMPD?ref_src=twsrc%5Etfw">@SLMPD</a> responded quickly and dispersed the crowd without conflict or injury, I'm disappointed in those people who will now have to face consequences for their behavior. <a href="https://t.co/2nQMs9fNv5">https://t.co/2nQMs9fNv5</a>
— Mayor Tishaura O. Jones (@saintlouismayor) <a href="https://twitter.com/saintlouismayor/status/1396834202461552645?ref_src=twsrc%5Etfw">May 24, 2021</a></blockquote>
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Let me be clear: You can go out and have a good time without all this nonsense. If we are committed to building a stronger city, we need to show some courtesy and respect.
— Mayor Tishaura O. Jones (@saintlouismayor) <a href="https://twitter.com/saintlouismayor/status/1396834203988340736?ref_src=twsrc%5Etfw">May 24, 2021</a></blockquote>
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This is a good time to remind everyone that <a href="http://www.informationliberation.com/?id=62245">Mark McCloskey is currently running for Senate in Missouri.</a>
 
 
source <a href="https://www.infowars.com/posts/watch-mob-filmed-jumping-on-occupied-police-cruiser-in-st-louis">https://www.infowars.com/posts/watch-mob-filmed-jumping-on-occupied-police-cruiser-in-st-louis</a>

news WATCH: Mob Filmed Jumping On Occupied Police Cruiser In St Louis

Please keep in mind as you watch this video that black folx are literally terrified that white police will shoot them at any moment for any ...

Whistleblowers expose Facebook’s secret algorithm to suppress negative vaccine experiences

Two Facebook insiders have come forward to investigative reporting outlet Project Veritas with leaked internal documents that reveal Facebook has been testing a “Vaccine Hesitance Comment Demotion” system and suppressing both truthful news stories and personal testimony on the vaccine.
The <a href="https://www.projectveritas.com/news/breaking-facebook-whistleblowers-expose-leaked-internal-docs-detailing-new/">leaked documents</a> state that the goal of this Vaccine Hesitance Comment Demotion system is to “drastically reduce user exposure to vaccine hesitancy (VH) in comments” and reveal that the system is being run on 1.5% of Facebook and Instagram’s collective 3.8 billion worldwide users. They add that during this test phase, likes on these so-called vaccine hesitant comments have been reduced by 42.5% and that around 176,000 total likes have been removed.
According to one of the Facebook insiders, a Facebook data center technician, this system uses classifiers in its algorithm to secretly determine “vaccine hesitancy” and assign a score called the “VH Score” (“Vaccine Hesitance Score”) to content. If the algorithm can’t make a decision, human raters step in and decide whether content is “vaccine hesitant.” This VH score then determines whether content gets demoted.
One of the leaked documents also revealed that these human raters only watch 60 seconds of a video, regardless of its length, before deciding whether it’s vaccine hesitant.
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The insider described this system as an example of the difference between Facebook’s public policy and private policy with the public policy being kept vague and ambiguous while the private policy is more specific.
James O’Keefe joins Owen to discuss the response from Facebook on newly revealed documents exposing the depths Big Tech will go to censor truth and facts.
The insider added that they think Facebook is “trying to make it seem like they’re not doing as much” and that Facebook doesn’t want people to know that it’s made something “specifically for vaccine hesitance.”
<div class="TtNh0OQH"><a href="https://www.infowarsstore.com/fizzy-magnesium?ims=cmmha&utm_campaign=FizzyMagnesiumHero&utm_source=Infowars+Hero&utm_medium=banner&utm_content=FizzyMagnesiumHero" target="_blank"><img src="https://api.directus.libertycdn.com/uploads/_/originals/OrangeFizzy-Hero.png" /></a></div>
This Facebook insider also discussed how simply reacting to a truthful news story about the vaccine or sharing your own personal experience with the vaccine could result in your post being suppressed under Facebook’s <a href="https://www.facebook.com/help/230764881494641">existing policy</a> which targets “content that does not break these rules, but could still discourage someone from getting vaccinated.”
According to the insider, writing “How is this not scary?” in response to screenshots of truthful posts about people who died after taking the COVID-19 vaccine or “Excruciating pain after my second vaccine! Shaking so bad almost to convulsions” is deemed to be “indirect discouragement” by Facebook which then results in the post being suppressed.
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The insider explained that this suppression is because “they [Facebook] don’t want people to see someone had a bad effect” and that the truth doesn’t matter to Facebook if “it doesn’t match the narrative” with the narrative being, “Get the vaccine, the vaccine is good for you. Everyone should get it. And if you don’t, you will be singled out as an enemy of society.”
According to the insider, Facebook has entire teams dedicated to developing these vaccine hesitancy classifiers. And one of the leaked documents shows one of the heads of these teams just a few levels below Facebook CEO Mark Zuckerberg in an organizational flow chart.
Another revelation from the leaked documents is that Facebook monitors comments for mentions of the Vaccine Adverse Events Reporting System (VAERS), a “national early warning system to detect possible safety problems in U.S.-licensed vaccines” that is co-managed by the Centers for Disease Control and Prevention (CDC) and the US Food and Drug Administration (FDA), and flags any VAERS mentions that suggests “extreme risk without providing full context.”
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The Facebook insider noted that Facebook’s use of “full context” to justify when content gets flagged is another example of the company’s use of ambiguous terms in its policies and suggested this term could be used selectively against studies Facebook doesn’t like.
The Facebook insider also said at least 25% of Facebook’s employees agree that the tech giant’s censorship of vaccine hesitance is “morally wrong.”
The other Facebook insider, a data center facility engineer who was the source of a <a href="https://reclaimthenet.org/mark-zuckerbergs-personal-opinion-on-vaccines-isnt-allowed-on-facebook/">previous leaked video</a> showing Zuckerberg’s personal opinion on vaccines conflicting with Facebook’s rules, said this Vaccine Hesitance Comment Demotion system prohibits people from “being able to have an open dialog about issues that affect their personal security” and compared Facebook’s treatment of its users to an “abusive” relationship.
This Facebook insider also questioned why Zuckerberg <a href="https://reclaimthenet.org/zuckerberg-hawley-free-speech-china/">claims to support freedom of expression</a> yet won’t “support freedom of expression in the most basic sense, that’s available to all people everywhere: which is to exist as God created them without any interference or intrusion by any interference or intrusion by any corporation or government to exist as they are.”
 
 
source <a href="https://www.infowars.com/posts/whistleblowers-expose-facebooks-secret-algorithm-to-suppress-negative-vaccine-experiences">https://www.infowars.com/posts/whistleblowers-expose-facebooks-secret-algorithm-to-suppress-negative-vaccine-experiences</a>

news Whistleblowers expose Facebook’s secret algorithm to suppress negative vaccine experiences

Two Facebook insiders have come forward to investigative reporting outlet Project Veritas with leaked internal documents that reveal Faceboo...

Joint Special Operations Command Personnel Encouraged to Attend Diversity, Equity, and Inclusion Conference

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Personnel for Joint Special Operations Command (JSOC), a secretive component of the United States military’s Special Operations Command, are being encouraged to attend virtual conferences on diversity, equity, and inclusion, among other topics considered beneficial for their “professional development,” according to two sources.
Emails obtained by Breitbart News and sent out from JSOC’s Civilian Training Office to JSOC personnel — both civilian and military — in April and May encouraged them to attend the virtual conferences, which would also be broadcast at their compound at Fort Bragg.
One email sent on May 20, 2021, reminded JSOC personnel that they had access to the conferences “at no cost (normally $500 a session per person).”
The email highlighted the three next upcoming conferences, which would be broadcast in a classroom for JSOC personnel — one on “Diversity, Equity and Inclusion”; another on “Change & Transformation”; and another on “Emotional Well-Being.”
The conference on Diversity, Equity and Inclusion, which started on Monday, included panels on:
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— Inclusive Leadership for Building Equitable Organizations (featuring professional actors portraying workplace scenarios to “illustrate the responsibility of leaders to mitigate bias and address systemic disparities);
— Psychological Safety & Belonging (the description said: “where people feel free to express who they are, what they believe, and how they feel…”);
— Restorative Justice, Community Trauma, and The Partisan Divide (the description said: “The violent storming of the Capitol on January 6th was just the latest and most extreme example of the division that exists…”);
— Racism, White Supremacy and Anti-Racism (the description said: “Racism is not a new thing but it seems as if recently [it] has gone mainstream. From Meghan Markle on Oprah to the murder of Asian women in Atlanta…”).
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<a href="https://www.breitbart.com/politics/2021/05/25/exclusive-joint-special-operations-command-personnel-encouraged-to-attend-diversity-equity-and-inclusion-conference/">Read more</a>
China’s power over America is exposed as both celebrities and Joe Biden bow to the Communist agenda.
 
 
source <a href="https://www.infowars.com/posts/joint-special-operations-command-personnel-encouraged-to-attend-diversity-equity-and-inclusion-conference">https://www.infowars.com/posts/joint-special-operations-command-personnel-encouraged-to-attend-diversity-equity-and-inclusion-conference</a>

news Joint Special Operations Command Personnel Encouraged to Attend Diversity, Equity, and Inclusion Conference

Personnel for Joint Special Operations Command (JSOC), a secretive component of the United States military’s Special Operations Command, ar...

Biden Says George Floyd’s 7-Year-Old Hugged Him, Wanted To Sit In His Lap, Ate His Ice Cream: ‘My Wife Would Kill Me’

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<h4>Joe Biden revealed that George Floyd’s 7-year-old daughter, Gianna, threw her arms around him, hugged him, and asked to sit in his lap. Biden then provided her snacks, including ice cream, and said Jill Biden “would kill” him if she knew.</h4>
While discussing his interactions with the family of George Floyd, the deceased fentanyl user who died in police custody after attempting to pass a fake bill one year ago today, he revealed that Floyd’s 7-year-old daughter, Gianna, “threw her arms around me, gave me a big hug — and wanted to sit in my lap.” He added that she then announced she was hungry and asked Biden for snacks. “My wife would kill me — we gave her some ice cream, she had some Cheetos, and I think she had some chocolate milk,” before revealing he could not remember the another snacks provided to the 7-year-old.
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PRES. BIDEN: George Floyd's daughter Gianna "threw her arms around me, gave me a big hug — and wanted to sit in my lap."
"My wife would kill me — we gave her some ice cream, she had some Cheetos, and I think she had some chocolate milk," POTUS says. <a href="https://t.co/YbWYzVhvag">pic.twitter.com/YbWYzVhvag</a>
— Breaking911 (@Breaking911) <a href="https://twitter.com/Breaking911/status/1397318981200105472?ref_src=twsrc%5Etfw">May 25, 2021</a></blockquote>
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Biden has repeatedly had strange interactions with children. Earlier this year, in part of a <a href="https://nationalfile.com/video-biden-says-everybody-knows-i-like-kids-better-than-people/">televised CNN town hall</a>, Biden declared, unprompted, that he likes “children more than people.” Only six days before, Biden <a href="https://nationalfile.com/joe-flirts-with-nurse-tells-her-she-looks-like-a-freshman/">appeared to flirt with a nurse</a> on camera, and told her, “you look like a freshman”, even as Kamala Harris looked on. Harris previously said she believed the women accusing Biden of sexual assault.
National File <a href="https://nationalfile.com/full-release-ashley-biden-diary-reveals-child-sex-trauma-drug-abuse-resentment-for-joe-whistleblower/">published the entire diary</a> of Ashley Biden, the daughter of Joe Biden, who revealed that she believes she was molested as a child, but does not remember the details. She also reveals that she had <a href="https://nationalfile.com/exclusive-source-biden-daughters-diary-details-not-appropriate-showers-with-joe-as-child/">“probably not appropriate” showers with Biden</a> as a child, and engaged in sexualized activity at a young age. “Was I molested. I think so – I can’t remember specifics but I do remember trauma,” wrote the author, before listing a series of potential incidents, one of which may have included Ashley Biden’s cousin Caroline Biden, as the author says she remembers “being somewhat sexualized” alongside a person named “Caroline.” The author added that she remembers “showers with my dad” that were “probably not appropriate.”
Locals in Minneapolis pay a very special tribute on the 1 year anniversary of the death of George Floyd.
 
 
source <a href="https://www.infowars.com/posts/biden-says-george-floyds-7-year-old-hugged-him-wanted-to-sit-in-his-lap-ate-his-ice-cream-my-wife-would-kill-me">https://www.infowars.com/posts/biden-says-george-floyds-7-year-old-hugged-him-wanted-to-sit-in-his-lap-ate-his-ice-cream-my-wife-would-kill-me</a>

news Biden Says George Floyd’s 7-Year-Old Hugged Him, Wanted To Sit In His Lap, Ate His Ice Cream: ‘My Wife Would Kill Me’

Joe Biden revealed that George Floyd’s 7-year-old daughter, Gianna, threw her arms around him, hugged him, and asked to sit in his lap. Bid...

Ex-Classmates Among World's Top Crypto Holders. On Elon Musk They Say...

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Kyle Davies and Su Zhu started Three Arrows Capital at the kitchen table of their apartment in 2012. Now they're among the world's biggest crypto holders with a portfolio worth billions of dollars.
At least for the moment.
Their portfolio was rocked in recent days as environmental concerns over mining, regulatory scrutiny, warnings by Chinese authorities about digital currency payments and a flurry of erratic tweets by Tesla Inc's Elon Musk whipsawed prices. For Davies, an early investor in the space and an evangelist for the underlying technology, the recent volatility is just a blip, enough perhaps to scare off newbie investors, but not for someone who has experienced far more volatile periods.
"Bitcoin's down 30% off the highs, it's really not down very much," the 34-year-old said in an interview from Singapore. "I don't see anyone really being that spooked."
Former traders for Credit Suisse Group AG, Davies and Zhu, the two are among the Wall Street pioneers who've embraced crypto, along with Dan Morehead of Pantera Capital and Mike Novogratz of Galaxy Digital. Now everyone from retail day traders to bankers are jumping in: CNBC reported this month that Aziz McMahon, head of emerging market sales for Goldman Sachs Group Inc. in London quit the bank after making a fortune trading cryptocurrencies for himself.
While many of the early devotees' fortunes rose and fell on the currency's price swings, crypto wealth is quickly turning into real dollars for some, whether through initial public offerings or companies that bring in traditional revenue. Brian Armstrong, co-founder of crypto-wallet Coinbase Global Inc., has a net worth of $9.3 billion after his firm's IPO, according to the Bloomberg Billionaires Index, while Binance's Changpeng Zhao created the world's largest crypto exchange.
Grayscale Stake
Davies and Zhu, also 34, have resisted talking about their fortune and recommended on social media that crypto billionaires do the same.
However, a filing in January revealed the extent of the firm's influence, when Three Arrows reported it owned a 5.6% stake in the Grayscale Bitcoin Trust, a $22 billion fund invested solely in the cryptocurrency set up by Barry Silbert.
Davies declined to say whether their position had changed or specify how much of the firm's capital belonged to them. Most of their other direct investments in cryptocurrencies and related companies don't need to be publicly disclosed.
The Grayscale stake made Three Arrows the largest shareholder and would have been worth as much as $2.1 billion in April. The trust's shares have since tumbled 43% following Musk's announcement this month that Tesla would suspend accepting the digital currency for purchases of its electric cars because of "rapidly increasing use of fossil fuels for Bitcoin mining" and regulatory clampdowns from China.
<blockquote class="twitter-tweet">
Definitely, would esp urge crypto billionaires to turn down forbes list ranking questionnaires / interviews
No point getting involved, just say "no comment" like I do <a href="https://t.co/3ddhRc30lX">https://t.co/3ddhRc30lX</a>
— Zhu Su (@zhusu) <a href="https://twitter.com/zhusu/status/1353589540749885443?ref_src=twsrc%5Etfw">January 25, 2021</a></blockquote>
Despite the environmental spotlight Musk's tweet placed on Bitcoin, Davies said he doesn't believe that those concerns apply across cryptocurrency trading as a whole.
"There are many cryptocurrencies that are proof-of-stake, which use very little if any electricity," Davies said. "That is the direction that a lot of crypto is headed in."
A proof-of-stake setup for a digital currency allows users with significant equity positions to verify transactions. That compares with proof-of-work transactions, such as those used in Bitcoin mining, where users have to complete complex math problems to access a coin, consuming much greater volumes of electricity.
Derivatives Traders
Davies and Zhu attended high school together, then studied at Columbia University in New York before joining Credit Suisse as derivatives traders in Tokyo. After three years at the Swiss bank, they quit and launched Three Arrows Capital to begin trading traditional currencies in emerging markets.
"It was a very inefficient market, and that's where we got our start," Davies said.
Within three years, they went from working in their San Francisco apartment to hiring about 35 people and trading 5% to 10% of all local emerging market currency volumes, he said.
They diversified into options, equities and crypto after "bigger and better firms came in and were better than us" in FX emerging-markets trading, Davies said. By 2018, the firm concentrated exclusively on crypto.
Their Singapore-based company now runs a fund, DeFiance Capital, that invests in decentralized finance, betting that these businesses will "eat traditional finance over the next decade," according to the group's website. Investments include InsurAce, which provides insurance services, and CDEX, a cryptocurrency swap platform.
'Outsized Voices'
"We have been long crypto for a while," Davies said. "We've not always been long Ethereum, in fact we've been short for periods of time, too. What's the best way to beat Bitcoin right now? Well it's just to own Ethereum. The ultimate goal of my book is to outperform Bitcoin."
Davies said that Ethereum is currently the firm's largest cryptocurrency holding. It has gained 245% this year compared with the U.S. dollar, while Bitcoin is up 29%.
<blockquote class="twitter-tweet">
Never before in all my days have I held a greater % of the planet's <a href="https://twitter.com/search?q=%24ETH&src=ctag&ref_src=twsrc%5Etfw">$ETH</a>
— Kyle Davies (@kyled116) <a href="https://twitter.com/kyled116/status/1396605074579722242?ref_src=twsrc%5Etfw">May 23, 2021</a></blockquote>
Despite the turbulence created by Musk's tweets, Davies said he's less worried about the billionaire's influence on the crypto market with each passing day.
"The thing about outsized voices is they usually don't last very long if they're used too much," Davies said. "If he were to tweet every single day, by the end of the year he would have no price impact."
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
 
 
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news world Ex-Classmates Among World's Top Crypto Holders. On Elon Musk They Say...

Kyle Davies and Su Zhu started Three Arrows Capital at the kitchen table of their apartment in 2012. Now they're among the world'...