Cofounder, Three Arrows Capital
Search every verified Su Zhu interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Su Zhu, the co-founder of the collapsed crypto hedge fund Three Arrows Capital (3AC), has been making media appearances in 2024 and 2025 to discuss the current market cycle, his firm's failure, and his new venture. In multiple interviews, Zhu has described the 3AC collapse as a failure to restructure, stating that a private restructuring would have been preferable to liquidation. He has expressed regret over not having the courage to pursue that path. Zhu has also commented on the collapse of FTX, suggesting that its founder could have restructured the company if he had the focus. He has described the crypto market as having a "birth death cycle" of "ultra fast hyper capitalism," where different people learn similar lessons each cycle. Zhu has been promoting a new exchange called OX.FUN. In his market commentary, he has discussed the potential for a Bitcoin and Ethereum ETF, calling an ETH ETF a "layup" that could meaningfully reprice Ether versus Bitcoin. He has also discussed the role of memecoins in the current cycle, stating that they are important and that culture can become a "proof of holding." Zhu has advised traders to be self-aware, stay humble, and stay hungry, and to be cognizant of when there is "Alpha on the table." He has also stated that he believes the crypto market is in a "supercycle."
“Based in Singapore — I run a crypto hedge fund called Three Arrows Capital. We trade large caps, midcaps, also do a lot of primary investments these days as well.”
“I first started hearing about Bitcoin around 2012–2013 and found arbitrage interesting — you could buy it on Bitstamp and sell it in BDC China; the cross‑border movement opportunities were notable even then.”
“In crypto most people trading are trading their own money, so they're a lot more careful, but on the other hand there's a lot more access to overall flow — it's a much more level playing field in crypto.”
“For derivatives we prefer to only trade on top‑tier exchanges — BitMX, Derbit, FTX — and for spot we're conservative too to keep a low footprint across venues.”
“Serum's approach is interesting — if Solana can deliver the throughput for a protocol DEX it can win users, but I don't see DEXs completely eating up centralized exchanges because centralized venues conceal flow and provide user privacy; for example, Coinbase is often used as a mixer.”
“It's fundamentally a good idea to distribute tokens to users because they improve the protocol and hold a long‑term stake, but incentives cause industrial‑scale or short‑term farming, so people need to think hard about what governance tokens will look like six or twelve months out.”
“This is a game of memetics — people chase the next meme; that game ends very quickly if a few whales dump because assets can go up fast but it only takes a small percentage of supply selling to crash prices dramatically.”
“Have a portfolio plan: set fixed allocations for why you're in the space (e.g., Bitcoin, Ether), keep long‑term holdings, and for short‑term trades make sure you can falsify whether you're right or wrong — don't become an investor in something you meant to trade.”
“As an entrepreneur don't fear pivoting or leaks — be confident in your ability to execute, attract talent, and convert people to your vision; non‑zero‑sum thinking matters much more than being secretive.”
“For us, we've seen so many people get priced out of the market over time. The funny thing about 2018 is that people think the lesson is to sell and buy the bottom, but really, if you just relax for a few months, it'll be fine in many cases. When there's a lot of despair, you can start buying; you don't have to follow t...”
“We trade a lot of Bitcoin and Ether and other large coins. The general model we believe in is that we trade to make more coins. We always make sure profits go into investing more into crypto. This philosophy sets us apart from many firms that mainly invested in dollars or the real world.”
“Crypto is part of a movement bringing a lot of freedom to the world. It has good and some bad consequences depending on who people are. It creates inequality but also disintermediation, leveling the playing field for individuals globally, from young developers in India to NFT artists in Iran.”
“We need to win the unhosted wallet battle in crypto. It's a tough one, but crucial to ensure crypto is not boxed into previous financial regulations. Without this, crypto risks becoming a permissioned database, losing its fundamental value.”
“Regulation will eventually preference crypto over other things. Just like cars were initially feared but later jaywalking became a crime, governments will come to protect unalienable rights to transact freely using crypto.”
“The instinct for government is to retain privileges like seigniorage, money inflation, and capturing value from citizens. This will be a tricky battle, but governments' will to fight crypto will be more limited than people expect.”
This video was archived from the FTX YouTube Channel before it was deleted. It has been uploaded here for archive and ...
This video was archived from the FTX YouTube Channel before it was deleted. It has been uploaded here for archive and ...
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Episode 17 of Crypto Market Wizards, an interview series focused on crypto traders in the trenches of the liquid markets. Today we have Su Zhu discussing his story and how he sees the current cycle playing out. I understand he is a controversial figure but I personally learned a lot from him last cycle so I selfishly wanted to pick his brain on the market. I hope you enjoy the episode! Crypto Market Wizards is an ad-free and sponsor-free podcast. Guest's Twitter: / zhusu Another podcast I did with Su (Steady Lads): • Steady Lads #31: Is The Supercycle Still I... Premium Discord: ht…
SUBSCRIBE TO OUR CHANNEL: / @rektradio1 FOLLOW OUR TWITTER: / rektradio_ POWERED BY ROLLBIT: https://rollbit.com/ -- At Rekt Radio, our hosts speak to risk-takers that find a way to defy the odds. Whether it's betting it all on the latest technologies, shorting euphoric bull markets, beating the sportsbook, or exploring new digital spaces, these people find a way to make a living predicting the future. Join our pseudonymous hosts, KeyboardMonkey3, OSF, and Mando as they talk to some of the most interesting people in crypto, equity trading, sports gambling, poker and card games, N…
Grant was joined by Su Zhu, previously of 3 Arrows Capital and now of Ox.fun, to discuss the current market happenings. This conversation covers why meme coins are running so hard, will the Bitcoin all-time high this early in the cycle affects the length of the cycle, and some of Su's portfolio allocations, including his token and NFT picks. Other talking points of this episode: World Coin (WLD) Starknet (STRK) Points programmes vs airdrops Eigen Layer OPNX pivoting to Ox.fun Altcoins on Su's watchlist /// 00:00 Introduction 01:00 Bitcoin ATH pre-halving 05:00 Crypto part of general c…
Stacks Podcast episode with Su Zhu: lessons learned from making & losing BILLIONS of dollars in crypto, understanding why memecoins are so important this cycle, biggest fumbles vs biggest wins, the risk of mixing trades with investments, Airdrop Points, ICOs, the ETH ETF trade, Dogecoin ETF??, how the crypto exchange meta will evolve and more. 🚨SUBSCRIBE: Drop a like, subscribe to the channel, enjoy the bull run with new episodes dropping soon! 💰BONUS: Claim Bitcoin DEPOSIT BONUS for New Trading Accounts on Bybit: https://partner.bybit.com/b/coinist TIMESTAMPS: 0:00 Intro 1:20 Bitcoin…
This week, the Lads are joined by the former CEO of Three Arrows Capitol, Su Zhu! Su shares his insights into many, many topics, including: where we are in the current market cycle, ETH vs L1s, prison and how it might be going for SBF, and he even joins in for some Pasta of the Week! A truly can't miss, super-sized episode! Steady Lads 🌊🚣♂️🌊 In this episode we cover: 00:00 Coming Up on Steady Lads 03:39 Intros 04:49 Where Are We In The Cycle? 08:51 ETH vs Alt L1s 15:27 What Is A 3D Portfolio? 18:33 Future Narratives 23:29 Cycle Theory 27:17 Is The ETH Edge Gone? 30:21 Doge & Dog Coins…
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