Singapore Authorities Arrest Co-founder of 3AC

Su Zhu, the Co-founder of Three Arrows Capital (3AC), has
been arrested in Singapore. His arrest is linked to his alleged failure to
cooperate during the bankruptcy proceedings of 3AC, the now-bankrupt crypto
lending company.

On Friday afternoon at Changi Airport in Singapore, Zhu was
arrested. His attempt to leave the country led to his detention, a development
confirmed by Teneo, the entity overseeing 3AC’s liquidation.

3AC was known for its investments in projects like LUNA,
Aave, Avalanche, BlockFi, Deribit, and Solana before its collapse last year.
The downfall began when LUNA, a significant investment of 3AC, experienced a
massive crash in May, triggering a series of events.

Breaking: ZHU Su, co-founder of failed crypto hedge fund Three Arrows Capital, was apprehended at Changi Airport whilst attempting to travel out of Singapore on Friday (Sep 29) afternoon. Businesstimes reported. https://t.co/W01HoeQYCu pic.twitter.com/TwvRuFKbxw

— Wu Blockchain (@WuBlockchain) September 29, 2023

Despite managing up to $18 billion in cryptocurrency assets
at its peak, 3AC failed to meet margin calls in June, raising questions about
its financial stability. In addition, the failure to repay a substantial debt
of $665 million to crypto broker
Crypto Broker

A crypto broker is a dealer that facilitates the direct exchange of cryptocurrencies for other assets between two parties in over-the-counter trading. If you want to trade Bitcoin off of an exchange, the broker is the entity that matches you with another trader. Cryptocurrency brokers are usually involved in high-volume trades. Crypto holders who want to buy, sell, or trade large amounts of Bitcoin may not want to do so on a cryptocurrency exchange because a possible lack of liquidity. In other

A crypto broker is a dealer that facilitates the direct exchange of cryptocurrencies for other assets between two parties in over-the-counter trading. If you want to trade Bitcoin off of an exchange, the broker is the entity that matches you with another trader. Cryptocurrency brokers are usually involved in high-volume trades. Crypto holders who want to buy, sell, or trade large amounts of Bitcoin may not want to do so on a cryptocurrency exchange because a possible lack of liquidity. In other
Read this Term Voyager Digital exacerbated the situation,
further destabilizing the company.