CEO and founder of the embattled crypto hedge fund Three Arrows, Zhu Su has been rumored to be looking for buyers for a mansion he owns in Singapore. The house in question is the latest of three bungalows, Zhu and his family have purchased since 2019.

This particular building is very pricey and was purchased by the family late last year via a trust fund at SGD 48.8M (the equivalent of $35 million) in the name of one of his children as reported by multiple media outlets. The mansion is on 25 Yarwood Avenue in Singapore’s Bukit Timah’s district and has been put up for sale in a private deal for an undisclosed amount.

Bloomberg reported that Zhu had already been trying to offload one of his bungalows in recent weeks citing this as information from undisclosed persons who have access to information about the current situation.

The rumors of his willingness emerged after a British Virginia court recently ordered the liquidation of Three Arrow Corporation (3AC) after they failed to pay their creditors. On June 30, the Monetary Authority of Singapore had already severely reprimanded 3AC for breaching fund management rules of licensing. Two advisory and consulting partners at Teneo have been appointed to track and effect 3AC’s liquidation with immediate effect.

Zhu Su founded 3AC alongside Davies who is also a co-founder and chairman of the firm. Their crypto assets were reportedly worth billions of dollars at some point but that figure has been softened by the heavy economic and cryptocurrency downturn.

Most of their crypto wealth had gone into valuable real estate over the last few years as Zhu and other entities related to 3AC are known as the owners of over five high-end, valuable properties including other assets like a fleer of luxurious cars and a yacht.

Featured image source: Crypto Adventure

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