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- 1 Su Zhu served nearly 3 months in Singapore prison last year.
- 2 He calls it an “enjoyable experience” with “the best sleep of his life.”
- 3 Zhu was jailed for failing to cooperate with the 3AC liquidation probe.
SINGAPORE – Su Zhu, the embattled co-founder of collapsed crypto hedge fund Three Arrows Capital (3AC), described his nearly three-month stay in a Singapore prison last year in surprisingly positive terms, calling it an “enjoyable experience overall.”
In a recent podcast excerpt posted to Twitter on January 22nd, Zhu stated that sleeping on the ground in jail “decompressed his spine” and gave him the “best sleep” of his life. He also mused philosophically about feeling a “kinship with his ancestors” while living under such basic conditions.
Zhu’s reflections drew mixed reactions from crypto users, with some questioning how being confined in prison could be deemed “enjoyable” under any normal circumstances.
Jailed for Lack of Cooperation with 3AC Liquidation Probe
Zhu was arrested in September 2022, when attempting to leave Singapore after being handed a four-month sentence for failing to cooperate fully with investigations into 3AC’s liquidation.
The massive hedge fund imploded almost overnight on June 16, 2022, after a string of failed margin calls from its lenders. The resulting fallout generated losses exceeding $3.5 billion for 3AC’s investors – ranking it among history’s largest-ever hedge fund trading debacles.
In the aftermath, Zhu and fellow 3AC co-founder Kyle Davies disappeared entirely from public view – forcing liquidators to reach them via Twitter messages while their physical whereabouts remained unknown.
Although still actively communicating online, launching a new crypto exchange amidst their ongoing legal troubles, huge question marks hang over the duo’s future. Liquidators are aggressively pursuing around $1.3 billion from them to recover losses.
Singapore Central Bank Issues 9-Year Prohibition Orders
Last September, Singapore’s central bank handed Zhu and Davies 9-year prohibition orders over suspected securities regulation breaches while operating 3AC in the city-state.
Yet despite his precarious situation, Zhu appears surprisingly philosophical about his first tangible punishment so far – a nearly 3-month jail term in his former base of Singapore.
Based on brief audio snippets shared online, he has embraced the spartan living conditions and lack of distractions during his incarceration.
Sleeping on Concrete “Decompressed His Spine”
“Obviously no one wants to go to prison,” Zhu admits in the recording. “But I think it was a really enjoyable experience overall.”
He highlights positives most would never associate with imprisonment – chief among them the alleged spinal and sleep benefits from resting on hard concrete floors.
“Sleeping on the ground, it decompressed my spine,” Zhu claims. “I got the best sleep of my life in there.”
Kinship with Ancestors Living Under Basic Conditions
Beyond purported health benefits, Zhu also waxes philosophical about finding harmony and perspective in prison through simple living.
“It’s a magical feeling. You feel a kinship with your ancestors. This is how I was supposed to live,” he proclaims.
Reactions: Zhu “Terminally Online”?
While some may relate to Zhu’s reflections on slowing down and simplifying, most social media responses expressed confusion at his sentiments.
“Only Su Zhu could be so terminally online he needs to go to prison to get the feeling normal people get from a walk on the beach,” jabbed Laurence Day, founder of crypto platform Wildcat Protocol.
“An enjoyable experience’? I’d love to know his inmates’ thoughts on their prison stay,” queried another user dryly.
Conclusion
Regardless of one’s personal take, Zhu’s positive imprisonment musings represent a stunning perspective shift or further disconnect from normal reality.
After playing central roles in crypto history’s biggest trading debacle and collapse, Zhu and Davies continue clinging to the industry via new ventures and public appearances.
Yet, with liquidators and authorities aggressively targeting their remaining assets, even Zhu’s newfound zen mindset faces immense tests. For the man indirectly responsible for billions in losses, his current legal and financial troubles still likely outweigh any claimed benefits from a brief jail stint.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
