Su Zhu, the co-founder of the collapsed hedge fund Three Arrows Capital (3AC), said he had the "best sleep" of his life while he was in prison.
What Happened: The Singapore Courts sentenced Zhu to a four-month jail term in September, as reported by 3AC’s joint liquidator, Teneo.
3AC co-founders Zhu and Davies have been accused by liquidators of not cooperating meaningfully with the probe which is mainly to recover $1.3 billion from both. Teneo estimated creditors are owed around $3.3 billion overall.
Zhu, who spent four months in a Singapore prison for defying a court order, expressed appreciation for the experience during a video podcast. “I think that it’s an enjoyable experience overall."
He added, “If everyone got to experience it once, I think it’s definitely good for you.”
Offering a glimpse into his life behind bars, Zhu noted the simplicity of prison entertainment and compared it to activities from “the ancient days.”
In the podcast, he also spoke about the basic routines and privileges within the facility, including ample reading material, the opportunity to exercise, and a structured diet. “You can read all the books you want,” Zhu said. “You can do all the pushups you want.”
He noted the quality of rest in the prison environment: "…And then the sleep is amazing..because they'll turn the light off at 9:30 pm and the light comes back on at 5:30.” Adding that, “I actually had the best sleep of my life in prison."
He also mentioned the physical benefits of the sleeping arrangements, as the mats provided instead of beds led him to “feel, like, kinship with your ancestors.”
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Why It Matters: Meanwhile, in the U.S., Sam Bankman-Fried, the former crypto-billionaire and founder of the now-defunct crypto exchange FTX, had to quickly familiarize himself with the economic system of New York’s Metropolitan Detention Center.
A report from the Wall Street Journal on November 23 reveals that Bankman-Fried is utilizing mackerel to navigate the internal market of the detention center, as tobacco products are banned and this fish has become a substitute currency.
Photo Courtesy: Dan Henson On Shutterstock.com
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