Su Zhu, the “Jailbird” Co-founder of Three Arrows Capital

3AC Co-Founder Su Zhu Expected to be Released by End of Year Following Intense Court Inquiry, According to Report

Co-founder Su Zhu of 3AC will be released by year-end after facing intense questioning in court. According to reports.

Breaking news! Su Zhu, one of the co-founders of the infamous bankrupt cryptocurrency lender Three Arrows Capital (3AC), is making headlines again. After facing intensive grilling in a Singapore court, it seems our dear friend Zhu is about to spread his wings and fly free once more. But let’s not celebrate just yet; it turns out his journey to freedom has been paved with controversy and speculation.

Zhu’s adventure began in the hot seat back in September 2023 when he was apprehended in Singapore while attempting to flee the country. This hasty escape plan was triggered by a local court sentencing him to four months of imprisonment. To everyone’s surprise (and perhaps relief), Zhu had a change of heart and decided to cooperate with the joint liquidator of 3AC, Teneo. His mission? To assist in the recovery of assets from the now-defunct firm.

Fast forward to this week, and Zhu found himself facing his first interrogation in Singapore, awakening the curiosity of the crypto world. Lawyers from Teneo bombarded him with questions for two whole days in a court hearing. They were determined to unravel the mystery behind the fund’s failure and get their hands on any traceable assets. According to insiders, there is hope that Zhu will be released this month based on good behavior. Let’s hope he’s been a model prisoner!

Now, before you go thinking this is just another run-of-the-mill legal matter, let’s dive deeper into the abyss. Teneo has made it clear that they won’t rest until Zhu fully complies with the court’s demands, even after his release. It seems they’re ready to wield their legal powers like mighty swords, making sure Zhu spills the beans and forks over any and all information related to 3AC.

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Not everyone is eager to play along with this drama, though. Teneo conveniently ignored Cointelegraph’s request for comment, leaving us wondering what other secrets might be hiding up their metaphorical sleeve. Are they merely keeping their cards close to their chest, or is there something more sinister at play? The suspense is killing us!

To truly grasp Zhu’s part in this dark tale, we must turn back the clock. 3AC, a Singaporean crypto hedge fund founded by the daring duo of Kyle Davies and Su Zhu, saw its demise when chaos struck in 2022. The fund failed miserably to meet margin calls during the infamous crypto market sell-off. Imagine it as a high-stakes poker game where 3AC held a losing hand, desperately swapping its precious Bitcoin between lenders in a frantic effort to stay afloat.

But alas, lady luck was not on their side. The tumbling Bitcoin prices tightened the noose around their financial necks, leaving them gasping for air. In a last-ditch effort, 3AC turned to the fallen BlockFi, another crypto lending firm, for a lifesaving Bitcoin borrowing scheme. Unfortunately, they couldn’t meet the margin call, spelling doom for the embattled hedge fund. It’s like watching a tragedy unfold in slow motion, with each scene more heartbreaking than the last.

And remember, this showdown between Zhu and Teneo’s representatives is not a criminal trial — at least not yet. Instead, it’s a civil matter, a clash of titans unfolding on the legal battlefield. Zhu’s partner in crime, Kyle Davies, remains at large, facing the same fate of four months behind bars if captured. It seems the gods of crypto have cast their dice, and the fate of these once-mighty founders hang in the balance.

So, dear reader, as we await the next thrilling chapter in this gripping saga, take a moment to reflect. Are we mere spectators to this crypto drama, or are we players ourselves? In this ever-changing landscape of digital assets and blockchain wonders, one thing is certain: the game is afoot, and the stakes have never been higher.

What are your thoughts on this intriguing tale of crypto betrayal and financial turmoil? Share your comments below and join the conversation!

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