Cryptocurrency Chronicles: From Billions to Zero in Just 3 Days.

This is a story that took place in 2022, a true vignette of the turbulent cryptocurrency market of that year.

Genius Boy to "Crypto Gambler"

Su Zhu, a Chinese-American prodigy who immigrated to the U.S. at the age of 6, co-founded Three Arrows Capital with high school classmate Kyle Davies at 25. From a Deutsche Bank trader to the "King of Leverage" in the crypto space, he skyrocketed Three Arrows to its peak in 2021 through reckless borrowing and aggressive investing—managing over $10 billion in assets, investing in star projects like Avalanche and Solana, and being hailed as the "Crypto Soros."

The Night Before the Collapse

At the end of 2021, Su Zhu lavishly spent $50 million to order a super yacht called "Much Wow," boasting that it was "bigger than all the yachts of Singapore's wealthy combined." While promoting the "Bitcoin super cycle" on Twitter, he used borrowed money to double down on LUNA, GBTC, and stETH.

72-Hour Avalanche: From Billionaire to Fugitive

In May 2022, the collapse of LUNA wiped out $5 billion, yet Three Arrows Capital continued to leverage up, "betting on a rebound." In June, Bitcoin fell below $20,000, collateral values halved, and $3.5 billion in debt detonated instantly! As creditors raced to collect their debts, Su Zhu fled to Dubai with his wife, leaving behind an unclaimed yacht and a $3.5 billion debt black hole.

The "Lehman Moment" in Crypto

The bankruptcy of Three Arrows directly dragged down exchanges like Voyager and BlockFi, causing Bitcoin to plummet 70%, with a trillion-dollar market value evaporating.

Ultimately, in September 2023, Su Zhu was arrested at Singapore airport while attempting to flee with a fake passport. His luxury mansions and NFTs were all seized, and he was sentenced to 10 years in prison, bringing a finality to this saga.

Now only the story of Three Arrows remains on the internet, recounting the journey of a genius boy navigating the crypto world only to be devoured by it.

Wishing all the retail investors can reach the shore soon, may everything go smoothly, may you all make big money, and achieve the desired numbers in your hearts!

Add and follow, like, and leave a comment with 888. Do you have friends around you who are "high" on crypto? Come share their stories in the comments~#鲍威尔发言 #美联储何时降息？ #币安Alpha上新 #Metaplanet增持比特币 #比特币与美国关税政策