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Su Zhu, the co-founder of the now-defunct cryptocurrency hedge fund Three Arrows Capital, recently made headlines for his unexpected remarks regarding his time in prison.
After being released last month, Zhu surprisingly described his stint behind bars as "enjoyable" as he shifted his focus toward promoting a new exchange linked to Hong Kong.
Unconventional Perspective on Prison Life
Zhu, who faced arrest in Singapore last September for failing to cooperate with investigations into his hedge fund's collapse, shared video clips on X, formerly Twitter, expressing his sentiments. In these clips, which he mentioned would feature in an upcoming podcast, Zhu candidly discussed his prison experience, highlighting unexpected benefits.
"Obviously no one wants to go to prison," Zhu acknowledged in the videos, "But I think that it's actually a really enjoyable experience overall."
According to the South China Morning Post, among the surprising perks he mentioned was improved sleep, attributing it to the mandatory lights-off time from 9.30 pm to 5.30 am and the absence of internet access, alcohol, or caffeine. "I had the best sleep of my life in prison," he remarked, despite initially adjusting to sleeping on a mat on the floor.
Transition to a New Venture
Following his release, Zhu transitioned from prison to home detention in November, with his sentence concluding on December 20. In an interview on X Spaces, he expressed his determination to move forward from the Three Arrows chapter and concentrate on his latest endeavor—a cryptocurrency exchange named OPNX.
Regulatory Situation
Hong Kong introduced new regulations last year to provide regulatory clarity to the crypto industry, aiming to establish itself as a global virtual asset hub.
According to Crypto Potato, the regulatory scheme mandates centralized crypto trading platforms operating or marketing to investors in Hong Kong to obtain licensing from the Securities and Futures Commission.
OPNX's decision to register an office in Hong Kong aligns with this regulatory framework, although the company hasn't yet commented on its compliance plans. Nonetheless, this move underscores the evolving landscape and the challenges and opportunities for crypto ventures in navigating regulatory requirements.
Photo: Viktor Forgacs/Unsplash
