After Blowing Up the Crypto Industry, Exec Turns to Magic Mushrooms

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Tripto Crypto

You wonder what Su Zhu and Kyle Davies, the crypto hedge fund managers widely credited with as the first major domino to fall in last year’s devastating crypto crash, have been up to since the collapse of their now-defunct firm? which led to the vaporization of approximately one trillion dollars?

As they told The New York Times in a recently published profile, they were never on the loose. No sir! They come from meditating, surfing and taking psychedelic mushrooms from Balinese rooftops. Naturally.

“You look at the stars, and the stars are just, like, moving,” Davies, who fled uh, traveled to Indonesia without extradition after his and Shu’s company, Three Arrows Capital (3AC), had imploded, told the NYT of his post-crash psychedelic experience. “You touch the grass, and it doesn’t look like normal grass.”

“You eat very fatty pork dishes, and you drink a lot of alcohol, and you go to the beach and you just meditate,” he added. “You have these magical experiences.”

Nice man. Glad you had a good time. Someone should, especially since in the aftermath of the stock market crash closely linked to 3AC, some people really didn’t.

Anti-capitalist icon

Zhu, for his part, learned to surf and is said to have spent most of his time in his $35 million home in Singapore in the meantime. And although he and Davies commanded a multimillion-dollar superyacht together dubbed the “Much Wow” in the months leading up to the crypto crash, Zhu assured the NYT that he had “always been pretty anti-capitalist” and that he was “actually against yachts”. personally.”

Both him and the orcs, we guess.

ticket to paradise

But while these two crypto figures describe their time away from public life as healing journeys out of the spotlight, things aren’t quite that simple.

To quickly recap: The duo’s hedge fund had invested $200 million in the “stablecoin” Luna. When Luna collapsed, so did 3AC, along with a number of 3AC-funded ventures, including Mark Cuban-funded Voyager Digital. Shortly after, when US regulators came knocking, they had to, because Davies and Shu were allegedly uncommunicative, the hedge honchos were nowhere to be found. Literally. Their offices have been vacated.

The story continues

And on that note, things haven’t been all zen and games for these two. In April, they launched a new crypto market called Open Exchange, because of course they did. And if this one drops too, at least we’ll know where to find Davies.

“If anyone is in trouble,” Davies told the NYT, “just go to Bali.”

More on Kyle Davies’ love for Bali

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