Su Zhu was sentenced to four months in prison last September when he was detained at Singapore airport. He has already served his sentence and is now free. Founder of Three Arrows Capital (3AC), once one of the largest companies in the cryptocurrency sector, Zhu made several mistakes that led to 3AC’s bankruptcy in 2022.
However, although his time in prison was punishment for his actions, Zhu described the experience as “pleasant”. According to the director, everyone should experience this once in their life.
Before 3AC’s bankruptcy, Zhu was considered one of the best traders in the cryptocurrency market. His empire collapsed after investments in Terra (LUNA), whose founder is in prison, and in GBTC, a Grayscale fund that was recently converted into an ETF but already had trust problems.
Everyone should go to prison once in their life, says Su Zhu
Su Zhu took part in a recent podcast and noted that he enjoyed the experience of four months in prison. According to the founder of Three Arrows Capital, during this time he bonded with his ancestors, broke free from addictions and realized this was the way he was supposed to live.
“Nobody wants to go to jail, but I think overall it’s an enjoyable experience.”
“I wouldn’t recommend it [ser preso] for being ordinary, but I would say it’s something everyone should experience at least once in their life. It’s definitely good for you.”Zhu continued. “I would describe it this way: all the things you are allowed to do in prison are things that used to be considered entertainment.”
“You can read all the books you want, you can do as many push-ups as you want, you get fruit every few hours, 3 meals [por dia]. The sleep is incredible as they turn off the lights at 9:30pm and don’t turn them on until 5:30am. Because you don’t have the internet, alcohol or caffeine, you fall asleep immediately.”
Su’s journey to prison ensures a harmonious return to the natural state of man pic.twitter.com/xQm3yrqipF
— Lukas (computer) 🐂 (@SCHIZO_FREQ) January 22, 2024
Cryptocurrency Billionaires in Prison
Other recently arrested cryptocurrency sector billionaires included Su Zhu Do Kwon, founder of Terra (LUNA), as well as Sam Bankman-Fried, founder of brokerage FTX.
South Korean Do Kwon was arrested at an airport in Montenegro with forged documents. Last Sunday (21) his company was declared bankrupt. The developer could be extradited to the US, where he will be prosecuted by the SEC. The length of his sentence has not been announced.
Sam Bankman-Fried was arrested in the Bahamas and quickly extradited to the US. At his trial, he was found guilty of all charges he faced. SBF faces up to 110 years in prison.
Like Su Zhu, Bankman-Fried seems to have adapted quickly to prison. According to an update on the situation of the founder of FTX, the director trades in fish, considered the chain’s local currency, in exchange for other products and services.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
