After Blowing Up Crypto Industry, Exec Turns to Magic Mushrooms

"You touch the grass, and it feels, like, not like normal grass."

Crypto Tripto

Wondering what Su Zhu and Kyle Davies, the crypto hedge fund managers widely credited as the first major domino to fall in last year's devastating crypto crash, have been up to since the collapse their now-defunct firm led to the vaporization of about one trillion dollars?

As they told The New York Times in a newly-published profile, they've never been on the lam. No sir! They've just been meditating, surfing, and taking psychedelic mushrooms on Balinese rooftops. Naturally.

"You look at the stars, and the stars are just, like, moving," Davies, who fled — er, traveled — to the extradition-less Indonesia after his and Shu's firm, Three Arrows Capital (3AC), imploded, told the NYT of his post-crash psychedelic experience. "You touch the grass, and it feels, like, not like normal grass."

"You eat very fatty pork dishes, and you drink a lot of alcohol, and you go to the beach and you just meditate," he added. "You have these magical experiences."

Nice, man. Glad you've been having a great time. Somebody ought to, especially considering that as the result of the closely-3AC-linked market crash, some people really haven't.

Anticapitalist Icon

Zhu, for his part, has learned how to surf, and has meanwhile reportedly been spending most of his time at his $35 million home in Singapore. And though he and Davies had together commissioned a multimillion-dollar superyacht — cringe-inducingly dubbed the "Much Wow" — in the months leading up to the crypto crash, Zhu assured the NYT that he's "always been quite anticapitalist" and is "actually against yachts personally."

Him and the orcas both, we guess.

Ticket to Paradise

But while both of these crypto characters are painting their time away from public life as out-of-the-spotlight healing journeys, things aren't quite that simple.

As a quick recap: the duo's hedge fund had a whopping $200 million invested into the Luna "stablecoin." When Luna collapsed, so did 3AC, and thus so did a number of 3AC-funded firms including the Mark Cuban-funded Voyager Digital. Shortly thereafter, when US regulators came knocking — they had to, because Davies and Shu were allegedly uncommunicative — the hedge honchos were nowhere to be found. Literally. Their offices were vacated.

And on that note, things haven't been all zen-and-games for these two. Back in April, they launched a new crypto marketplace called Open Exchange, because of course they did. And if this one goes down too, at least we'll know where to find Davies.

"If anyone has any problems," Davies told the NYT, "just go to Bali."

More on Kyle Davies' love of Bali: Guy Linked to Huge Crypto Meltdown Says It’s Just a Coincidence That He’s Hanging Out in a Country With No Extradition to United States