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Zhu Su was sentenced to four months of imprisonment. Just a few hours ago, he was still sending out "Happy Mid-Autumn Festival" messages.

律动小工and others3Authors

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Zhu Su, co-founder of Three Arrows Capital, has been sentenced to four months in prison. The news of his arrest caused a 33% drop in the price of Friend.tech Key and a 45% drop in the price of OX in the short term.

Table of Contents

· Just a few hours ago, still posting on social media to wish everyone a happy Mid-Autumn Festival

· Crypto trading master arrested, what does the community say?

· News of Zhu Su's arrest causes Friend.tech Key prices to drop by 33%

· OX experiences a short-term drop of 45%

· Looking back at Zhu Su, the martyr of Luna's collapse

BlockBeats News, September 29th, the liquidator of Three Arrows Capital stated that Zhu Su, co-founder of the hedge fund, was arrested in Singapore while attempting to leave. Teneo, the failing crypto hedge fund, stated that they received a commitment order against Zhu Su after he failed to comply with a court order requiring him to cooperate with the liquidation investigation. According to a statement, Zhu Su has been sentenced to four months in prison.

A few hours ago, he posted on social media wishing everyone a happy Mid-Autumn Festival.

Zhu Su posted a festive tweet on social media X (formerly known as Twitter) 13 hours before being arrested.

BlockBeats previously reported that on September 14th, the financial regulatory agency in Singapore issued a statement stating that it has imposed a nine-year ban on Zhu Su and Kyle Davies, the two founders who were criticized for the collapse of the cryptocurrency hedge fund Three Arrows Capital, prohibiting them from engaging in any regulated activities.

Master of cryptocurrency trading arrested, what does the community say?

Famous encryption KOL Marc Zeller (@lemiscate) expressed his views on Su Zhu's arrest on social media: "In the real DeFi, Su Zhu cannot have any unique skills. His arrest is a victory, but as an ecosystem, let us tell ourselves that we should have closed the door to individuals like him from the beginning."

Many netizens have linked the recent arrest of Zhu Su with the arrest of BitBoy Crypto founder Ben Armstrong and others, and expressed their views on the current market. Among them, @yourmoneygone believes that this is the most interesting bear market.

While @hongshen6666 commented on the consecutive arrests of cryptocurrency industry founders, "The figure who once dominated the cryptocurrency market during the bull market of 2021 has now fallen so low. Life is very important in one's lifetime. If you earn money, earn it honestly. If you can't handle the blessings that come with earning money, you will be consumed by them. Moreover, the money earned is all from the bloody capital market."

Additionally, well-known NFT & FriendTech data analyst TylerD (@Tyler_Did_It) also stated: "Zhu Su's friend.tech platform 'Keys' plummeted 38% after being arrested today. It turns out that being arrested is bearish for friendship..."

Indeed, the price of Zhu Su's friend.tech platform "Keys" has been continuously declining.

Zhu Su Arrested, Friend.tech Key Price Plummets by 33%

BlockBeats news, due to the arrest and imprisonment of Zhu Su in Singapore, the price of the "Keys" platform on friend.tech has plummeted from 0.961 ETH to 0.638 ETH in a short period of time, a drop of over 33% in the past 30 minutes.

BlockBeats reported on August 20th that Zhu Su, the founder of original Three Arrows Capital, expressed his views on friend.tech on social media, stating that friend.tech can help creators and their "account share" holders create a win-win ecosystem.

OPNX Token OX Short-Term Oversold by 45%

According to market data, due to the arrest of OPNX founder Zhu Su, the native token OX of the crypto claims and trading platform OPNX plummeted to $0.01218 in a short period of time, with a 24-hour drop of over 45%.

On April 4, 2023, the bond market Open Exchange (OPNX) founded by Zhu Su and others announced its official launch. In June, Zhu Su tweeted that the OPNX cryptocurrency claims and trading platform had a daily trading volume of over $32 million, reaching a historical high. On August 1, Zhu Su posted on social media that OPNX had successfully processed the first batch of FTX claims.

Review of Zhu Su and Luna's Crash

Since May of last year, the cryptocurrency market has never been peaceful. In just one month, we witnessed the overnight collapse of the $40 billion financial empire Luna, the anchor of the Lido derivative of the world's largest decentralized node ETH 2.0, the suspension of withdrawals by the largest cryptocurrency bank in the United States, Celsius, and the liquidation of Three Arrows Capital, which was said to have once held $18 billion in cryptocurrency assets. After the collapse of Luna, institutions in the cryptocurrency field were all fearful, and visible operations on the chain became more frequent.

Returning to this year, during the period of more than half a month when the cryptocurrency market was sluggish and the Bitcoin volatility index hit a new low. Zhu Su, the founder of Three Arrows Capital, frequently shared on social media the altcoins worth paying attention to during this cycle, including RLB, OX, and HarryPotterObamaSonic10Inu (BITCOIN).

The community also discovered a frequent transfer of funds in a related area, although it is not marked with a clear owner like Nansen, but the large holdings coincide with the list of counterfeit currency that Zhu Su, the founder of Three Arrows Capital, shared before. The community speculates that it may belong to Zhu Su.

Looking back at the glorious past of Zhu Su. Ten years ago, Zhu Su co-founded Three Arrows Capital with Kyle Davies. Zhu Su just turned 36 years old this April. He was born in China and moved to the United States when he was 6 years old.

In early 2013, I entered the Bitcoin industry, mainly focusing on trading platforms in China, including various arbitrage trades. By the end of 2017, it was clear to me that the talent and energy of the young people in this field alone indicated that Crypto would follow the creation and destruction cycle of the early Internet, ultimately bringing about a paradigm shift in finance, technology, and culture. I also became a citizen of Singapore in 2016.

In a previous interview, Zhu Su was asked who he admired the most in history or philosophy. His answer was Lee Kuan Yew, the late founding prime minister of Singapore. "Lee Kuan Yew wanted to achieve incredible futurism by separating Singapore from Malaysia. So I think essentially, Singapore is the first city of entrepreneurship. It had to go through multiple challenges of national construction in a dangerous geopolitical environment: security, energy, economy, and culture. I see many similarities with the construction of the crypto community. You must believe in the power of community and collective action, as well as the importance of uninterrupted transparency and honesty, and winning in the battle of ideas," Zhu Su said.