Have you heard about the crazy story of the two American guys and the Chinese guy? They started a company together and ended up owing a debt of up to 3.5 billion US dollars! This is no joke. One was arrested and imprisoned, and the other appeared last week and was still smiling so happily. It's really infuriating!

First, let's get to know the two protagonists. Zhu, a Chinese-American boy, was born in China in 1987 and moved to the United States with his parents at the age of 6. He attended Phillips Academy High School and graduated with honors from Columbia University with a bachelor's degree in mathematics. His partner, Kyle Davis, is also an American and also studied at Columbia University. After graduation, these two alumni both worked briefly at Credit Suisse Group and became friends by chance.

The two young men decided to start a company together, so they borrowed $1 million from their parents and founded Three Arrows Capital, a cryptocurrency and hedge fund company in San Francisco in 2012. They were full of energy and the company was constantly transforming, with a net worth of a staggering $18 billion. However, the good times did not last long. In the first half of 2022, the cryptocurrency market began to fall widely, and their company has since gone from prosperity to decline. In June 2022, they failed to repay more than $665 million in funds loaned by cryptocurrency broker Voyager Digital, so Voyager Digital issued a default notice to them and the court ordered the company to be liquidated. In July, Three Arrows Capital filed for bankruptcy protection under the U.S. Bankruptcy Law. At the same time, the Monetary Authority of Singapore also ordered Zhu and Davis to be banned from participating in the financial industry for nine years.

Well, the next is the fate of the two founders. Zhu was arrested at the Singapore airport and sentenced to 4 months in prison for failing to cooperate with the company's liquidator. However, he was released after only 3 months in prison due to good behavior. Zhu seemed to be in a good mood after being released from prison. He also provided cryptocurrency trading advice to everyone on Twitter and even humorously gave himself a new Twitter signature: "Forever optimist, starting a business under public supervision!!"

And what about Davis? This guy is still on the run, and no one knows where he is. He even had time to participate in the live show while on the run to report his current situation to everyone. In February of this year, he was interviewed by New York Magazine and claimed that he stayed in Portugal, but refused to disclose his exact location in the country. Last Tuesday, he unexpectedly appeared on the podcast Unchained. Talking about the arrest of his Chinese companions, he said lightly: "Their verdict was a 'surprise' for both me and Zhu." He also said that he did not plan to return to Singapore "immediately", but he would consider it if the contempt of court order was revoked.

Davis's arrogant and rude attitude has unsurprisingly aroused public anger. When he was asked on a podcast whether he regretted "squandering" billions of investors' funds, he didn't care at all and grinned and said, "Do I feel sad for a company that is going bankrupt? No, companies go bankrupt, almost every company goes bankrupt, right?" This attitude immediately angered the deceived netizens, who accused him of sophistry and frivolous attitude on social media.

This story tells us that we must be cautious when investing! Especially for cryptocurrencies that promise high returns, we must be more vigilant. The actions of these two founders not only caused huge losses to investors, but also caused social trust issues in the cryptocurrency market. Therefore, ordinary people must be cautious when investing, and not be fooled by those seemingly beautiful promises. They must remain rational and do a good job of risk management. After all, no one wants to be the next "pig teammate" to be pitted!



#币安合约锦标赛 #美国5月CPI超预期回落 #ZKsync空投争议 #IO #币安用户数突破2亿 $BTC $SOL $ETH