Revelations of the lavish Singaporean lifestyle of Three Arrow Capital (3AC) founder Su Zhu have generated quite the buzz recently. His expensive Good Class Bungalow, previously serving as living quarters, was reimagined into Yarwood Homestead – an urban farm. Zhu’s wife, Evelyn Tao, oversees the day-to-day operations, transforming the once residential property into an agricultural oasis with a satisfactory yield of vegetables, herbs, fruits, and various livestock.
Despite its transformation, this upscale property did not deviate from its commitment to cater to affluent clientele, as it also serves as a venue for private dining and organized tours. This extravagant piece of real estate plays another significant role – serving as the research and development headquarters of Abundant Cities. Tao, along with co-founder Sarah Lewis, spearhead this scientific enterprise that brings regenerative and nourishing gardens to modern urban dwellers.
However, troubles stirred in paradise when the crypto market faced a seismic downswing due to the downfall of Terra protocol’s UST stablecoin. 3AC, heavily invested in the blockchain network, fell into a catastrophic deficit – reportedly defaulting on credit obligations amounting to a staggering $3.5 billion. With the company now entangled in bankruptcy proceedings, the property that was once purchased for a princely sum of around $35.6 million lay unsold despite attempts to find a buyer.
Post COLLAPSE, the founder Zhu found himself in the center of a manhunt, regarded as a fugitive across many regions. His journey on the run concluded upon apprehension at Singapore’s Changi Airport as he was attempting to leave the country. His rigid absence and non-cooperation during the bankruptcy proceedings led to a 4-month prison sentence for him and co-founder Kyle Livingston Davies, who remains elusive.
The Monetary Authority of Singapore imposed a nine-year sanction on the duo, barring them from any regulated investment activities in the country. Further developments portray Terra blockchain founder Do Kwon undergoing an apprehension and admitting to fraudulently manipulating trading volumes.
As is it unfolds, this intricate tale assimilates the dazzling highs and precipitous lows inherent in the volatile vocation of cryptocurrency. As it reels from its fall, 3AC’s transformation tells a story of opulence turned agricultural sustenance – serving as both a reminder of the pitfalls of reckless investment and the resilience of innovative adaptation.
Source: Cryptonews
