3AC Founder’s Wife Cashes Out With $38.5 Million Singapore Mansion Sale
The post 3AC Founder’s Wife Cashes Out With $38.5 Million Singapore Mansion Sale appeared on BitcoinEthereumNews.com.
A report revealed that the spouse of one of the co-founders of the now-defunct Three Arrows Capital, or 3AC, sold one of their luxurious mansions in Singapore. Property Sale Despite Asset Freeze Reports disclosed that 3AC co-founder Zhu Su’s wife, Tao Yaqiong, successfully sold a real estate property for an astounding $38.5 million despite an existing court order freezing the couple’s assets after the crypto company went bankrupt. Records showed that Yaqiong, who also goes by the name of Evelyn, initiated the property sale in July, and was only finalized in October. The residential mansion occupies a land area of about 1,446 square meters in Dalvey Road, an area close to the Singapore Botanic Gardens. According to Bloomberg News, Yaqiong bought the house in 2020 for roughly $20.63 million. The wife of Zhu Su, the co-founder of collapsed cryptocurrency hedge fund Three Arrows Capital, has managed to sell a mansion she owns in Singapore for $38.5 million, despite a court-imposed freeze against some of the couple’s other assets. https://t.co/fHRj3fAjdA — Bloomberg (@business) November 2, 2024 3AC’s Rise And Fall Zhu and his partner Kyle Davies established 3AC in 2012. The company used to be one of the most prominent cryptocurrency hedge funds in the world. The hedge fund was known for leveraging heavily on cryptocurrencies. At one point, 3AC boasts more than $18 billion worth of assets. It made investments on popular digital assets like Solana, Ethereum, Avalanche, Polkadot, and WorldCoin. Total crypto market cap currently at $2.2 trillion. Chart: TradingView However, 3AC encountered a falloff in 2022 after the huge decline of prices in the crypto market, resulting in the company’s filing of Chapter 15 bankruptcy to protect itself from US creditors after falling into liquidation. Earlier, CNBC described 3AC as among the biggest casualties of the so-called “crypto…
Filed under: News - @ November 3, 2024 9:05 pm