- It seems Su Zhu, one of 3AC co-founders, has been released from his prison sentence.
- He tweeted recently on the social media platform X.
3AC co-founder Su Zhu has supposedly been released from prison as he dropped a recent post on the X platform (formerly twitter).
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— 朱溯 🐂 (@zhusu) December 1, 2023
Zhu, along with his fellow Three Arrows Capital founder, Kyle Davies, was arrested at Changi Airport in Singapore on September 29 and sentenced to four months in prison for failing to cooperate with liquidators investigating the collapse of their hedge fund.
The liquidation of 3AC, a cryptocurrency fund that managed $4 billion at its peak, was triggered by the cryptocurrency market meltdown in the summer of 2022.
The fund’s bankruptcy had widespread repercussions, affecting millions of amateur investors and contributing to the downfall of various companies in the crypto industry.
Kyle Davies’s current whereabouts remain unknown, according to Teneo, the firm overseeing the fund’s liquidation.
Su Zhu’s reappearance on social networks is interpreted as a signal to the crypto community about his release, making him the latest crypto executive to face legal consequences following the market downturn last year.
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Following the collapse of 3AC, co-founders Su Zhu and Kyle Davies refuted allegations of wrongdoing and embarked on individual journeys.
While Davies explored destinations such as Spain and Bali, 3AC founder Zhu pursued personal interests, including playing video games and engaging a surf instructor.
Their post-collapse activities took an unexpected turn in April when the duo revealed their new venture, Open Exchange. Positioned as a marketplace, Open Exchange aims to assist investors who incurred losses during the cryptocurrency market implosions of the previous year.
More news to come up on this…
