Defunct crypto hedge fund 3AC's co-founder Zhu arrested - report

Su Zhu, the co-founder of collapsed crypto-native hedge fund Three Arrows Capital, has been arrested in Singapore, Bloomberg reported Friday, citing the firm's liquidator Teneo. Teneo was said to have received a committal order sentencing Zhu, who was apprehended at Singapore's Changi Airport, to four months in prison. Three Arrows, also called 3AC, suffered outsized losses last year as its leveraged crypto wagers turned sour, in a move that accelerated a $2T market rout and led to a series of other bankruptcies in the space. Liquidators reportedly are trying to secure over $1B directly from the Zhu, alongside co-founder Kyle Davies. The news comes shortly after Singapore's central bank issued nine-year prohibition orders against Zhu and Davies, effectively barring both men from market activity in the city-state. More on Three Arrows Capital Three Arrows Capital ordered to liquidate - report Three Arrows Capital owes $2.36B to Genesis Voyager Digital stock plunges after disclosing over $660M exposure to 3AC