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Source: W3C DAO
Zhu Su (Zhu Su) is aCryptocurrency Investor Born in China, entrepreneurs and social media influencers.
He was formerly the co-founder, CEO and Chief Investment Officer of Three Arrows Capital and the founder of the OX Agreement.
It can be argued that he is well-known for his investment achievements in the cryptocurrency field and his influence on the market, but has also been hunted and charged for alleged fraud, tax evasion and money laundering.
Three Arrow Capital: The Leader in the Cryptocurrency Market
Zhu Su and his high school classmate Kyle Davies founded San Arrow Capital, a hedge fund focusing on cryptocurrencies and derivatives in Singapore in 2012.
Sanjian Capital initially engaged in foreign exchange arbitrage trading in emerging markets, but later turned to the cryptocurrency field and invested in many well-known projects and platforms including Bitcoin, Ethereum, Polkadot, Huobi, FTX, LUNA, etc.
Sanjian Capital’s asset management scale once reached US$10 billion, is one of the largest hedge funds in the cryptocurrency market, and has also been regarded as a “top stream” among many hedge funds in the cryptocurrency industry.‘
As the leader of Sanjiang Capital, Zhu Su has also accumulated more than 500,000 Twitter followers and has become an opinion leader and market trend in the cryptocurrency field.
Three Arrows Layout: Diversity, Foresight and Bold
Sanjiang Capital’s investment strategy in the cryptocurrency field can be summarized in three words: diversification, forward-looking and bold.
Diversification
Sanjiang Capital not only invests in various types of cryptocurrencies, such as Bitcoin, Ethereum, etc., but also invests in projects in various tracks., such as decentralized finance (DeFi), non-fungible tokens (NFT), metaverse, cross-chain bridge (Cross-chain Bridge), stablecoin (Stablecoin), etc.
Sanjian Capital also invests in various forms of platforms, such as exchanges, wallets, lending, oracles, insurance, derivatives, games, etc.Sanjiang Capital’s portfolio covers all aspects of the cryptocurrency sector, demonstrating its deep understanding and extensive participation in the market.
Foresight
Sanjian Capital not only focuses on current market trends and hot spots, but also focuses on future market potential and opportunities.
Sanjian Capital once invested in Polkadot, a blockchain network that supports cross-chain interoperability in 2017. Polkadot had not officially launched at that time, but was just a concept and a white paper.
Sanjian Capital also invested in LUNA (Terra), an algorithm-based stablecoin ecosystem in 2018. At that time, LUNA was not known to the public and was just a niche project.These investments by Sanjiang Capital show its forward-looking and insight into the cryptocurrency field, and have also brought huge returns to it.
Bold
Sanjian Capital not only dares to invest in emerging and unknown projects, but also dares to increase investment and leverage in the face of market volatility and uncertainty.
On March 12, 2020, the day called “Black Thursday”, Sanjiang Capital bought Bitcoin in large quantities and even used 100 times its leverage when the price of Bitcoin plummeted by nearly 50%.As a result, huge profits were made in the subsequent market rebound.
Sanjiang Capital also bought Ethereum in large quantities on May 19, 2021, the day called “Bloody Wednesday”. When Ethereum price plummeted by nearly 40%, it even used 50 times its leverage., thus gaining considerable returns in the subsequent market recovery.
These investments by Sanjian Capital show its confidence and determination in the cryptocurrency market, and have also won it respect and awe of the market.
LUNA Event: The Deadly Strike of Three Arrow Capital
Sanjiang Capital’s investment achievements and market influence have made Zhu Su and his team a giant and star in the cryptocurrency field, but also made them a thorn in the eyes and thorn in the flesh of regulators and competitors.Sanjiang Capital eventually suffered a fatal blow from its investment career, the LUNA incident in 2022.
The LUNA incident refers to a serious security breach in the main network of LUNA (Terra), which caused a large number of LUNA tokens to be stolen, and also caused the anchoring mechanism of LUNA’s stablecoin UST to be invalid., causing the UST price to fluctuate significantly, and even fell below $0.1 for a time.The impact of LUNA events is not limited to LUNA and UST, but alsoIt has affected the entire cryptocurrency market, triggered a large-scale panic and sell-off, leading to a market crash and bloodshed.
Three Arrow Capital is one of LUNA’s largest investors and one of the largest users of UST.Three Arrow Capital lost billions of dollars in assets in the LUNA incident, as well as its credibility and position in the market.To make matters worse, Sanjiang Capital was also investigated and prosecuted by regulators and law enforcement agencies in multiple countries for its alleged links to hackers in the LUNA incident.
Three Arrow Capital was accused of being behind the LUNA incident, using its influence and control in the LUNA network to deliberately create security breaches, thus implementing a premeditated insider trading and market manipulation, which not only obtained a large amount of LUNA tokens from hackers, but also sold a large amount of UST from the market, thus gaining huge illegal benefits.
Sanjiang Capital denied the allegations, claiming that it was a victim of the LUNA incident, not the mastermind, and had no contact or cooperation with the hacker.Sanjian Capital also stated that its behavior in the LUNA incident was due to normal investment and risk management considerations, and there were no illegal or immoral intentions or behaviors.
However, these defenses did not let Sanjian Capital get out of the predicament, but instead put it in greater trouble.Regulatory agencies and law enforcement agencies in many countries, such as the U.S. Securities and Exchange Commission (SEC), the U.S. Department of Justice (DOJ), the Singapore Monetary Authority (MAS), the People’s Bank of China (PBOC), etc., have developed in-depth research on Sanjiang Capital.The investigation and review have even issued an arrest warrant and a wanted warrant, requiring the senior management of Sanjian Capital, especially Zhu Su, to cooperate with the investigation and appear in court to be tried.
OX Protocol: Zhu Su’s Last Try
Faced with such a severe situation, Zhu Su and his team did not choose to surrender or compromise, but chose to escape and fight back.
Zhu Su and his team, using their resources and networks in the cryptocurrency field, successfully avoided hunting and arresting from various countries, while also secretly planning a new project called OX Exchange.
Zhu Su hopes to rebuild his reputation and position in the cryptocurrency field through the OX exchange, while also sending a strong signal to regulators and competitors that he will not give up and surrender easily, but will continue to do so for crypto.The development of currency and the fight for freedom.
However, Zhu Su’s plan did not come true, but instead led to his complete fall.After the launch of the OX Exchange, although it was welcomed and praised by some users and supporters in the cryptocurrency field, it also encountered more criticism and resistance, and was even considered a dangerous and evil existence, threatening cryptocurrency.The legality and security of the currency.
The main problem with OX exchange is that it is too paranoid and radical, not only does it not bring more freedom and rights to users and participants in the cryptocurrency field, but instead puts them in more risks and crises, such as fraud, theft, extortion, money laundering, terrorism, etc.
Conclusion
Zhu Su is a controversial and paradoxical figure whose investment achievements and market influence in the cryptocurrency field have made him a giant and star, but also made him a criminal.His story, also a microcosm of the cryptocurrency field, shows the charm and potential of cryptocurrencies, and also shows the risks and challenges of cryptocurrencies.
Zhu Su’s story also provides us with some inspiration and lessons, so that we can learn from it and learn from it in order to better understand and participate in the cryptocurrency field.
Cryptocurrency is an innovative and revolutionary technology and ideas. It has brought new possibilities and opportunities to the development and progress of human society, but it has also brought new problems and challenges, which require us to use a new perspective and method.Understand and respond.
