The failed cryptocurrency hedge fund was liquidated earlier this week
, a court in the British Virgin Islands ordered the liquidation of the beleaguered hedge fund on June 29 in a blow to the industry. BREAKING: FTX Agrees to Acquire BlockFi
In the meantime, Zhu Su, co-founder of 3AC, is reportedly selling his good class bungalow in Singapore. Zhu used to promote a theory about the cryptocurrency industry entering a so-called “supercycle,” in which prices would continue growing due to increasing adoption. After Bitcoin prices plunged, he was forced to admit that the theory was wrong. The largest cryptocurrency is now down 72.09% from its record peak.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.