š² Wanna hear the biggest crypto crash story you (probably) donāt fully know?
šŖHere goes the saga of Su Zhu, the Singaporean entrepreneur and co-founder of crypto hedge fund Three Arrows Capital. This crypto legend managed to lose $3 billion in 72 hours. His fund, once hailed as the crown jewel of crypto trading, turned out to be more of a ticking time bomb.
šHereās the playbook: borrow a ton of money, use that to borrow even more, and repeat untilā¦ well, you implode. Red flags were waving everywhereāzero risk management, reckless leverage, and transparency that was practically invisible. But hey, when everyoneās busy making money, who has time to notice?
šThen came 2022: the LUNA crash followed by BTCās nosedive. Thousands of people faced massive losses, while Su Zhu? He vanished. Poof. It wasnāt until September 2023 that he reappeared, now under investigation and staring at a potential 10-year prison sentence.
šThe moral of the story? Playing with leverage isnāt just risky. Itās a great way to lose everything and owe a fortune.
