From $3 billion to zero in just 3 days. I will continue to update the key points in the crypto space #BNBChainMeme热潮

Su Zhu, co-founder of Three Arrows Capital (3AC), was once a legendary figure in the cryptocurrency field. He accumulated billions of dollars in assets through bold strategies and high-leverage operations, but ultimately, his wealth empire collapsed within 72 hours in May 2022.

The rise of Three Arrows Capital relied on crazy chain borrowing—borrowing from platforms like BlockFi, Voyager, and Genesis, and then using the borrowed funds to continue borrowing, forming a closed-loop high-risk cycle. Su Zhu also controlled funds from wealthy individuals, veterans in the crypto space, and other hedge funds, but completely ignored risk management, blindly relied on a bullish market, and all operations were extremely secretive and opaque.

In May 2022, the collapse of LUNA became the last straw that broke the camel's back, and the $500 million investment of Three Arrows Capital evaporated instantly. Subsequently, Bitcoin and other crypto assets plummeted sharply, and the high-leverage strategy became a fatal shackles. After the value of collateral assets fell by 50%, bankruptcy became inevitable. Faced with creditors chasing debts, Su Zhu chose to go missing, and ultimately, Three Arrows Capital went bankrupt, and his wealth empire was completely reduced to zero. #BNBChainMeme热潮 #CardanoETF讨论

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