--- title: "After Blowing Up Crypto Industry, Exec Turns to Magic Mushrooms" description: "Three Arrows Capital (3AC) founders Su Zhu and Kyle Davies say they haven't on the lam. They've just been vibing with beach time and shrooms." date: "2023-06-13" modified: "2023-06-13" authors: - name: "Maggie Harrison Dupré" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/mharrison" url: "https://futurism.com/the-byte/crypto-exec-magic-mushrooms" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "crypto" - "crypto bros" - "the digest" - "three arrows capital" --- # After Blowing Up Crypto Industry, Exec Turns to Magic Mushrooms ![Three Arrows Capital (3AC) founders Su Zhu and Kyle Davies say they haven't on the lam. They've just been vibing with beach time and shrooms.]() *Dreamy neon palm tree \Image: Getty Images\* ## 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*]() ## Author At Futurism, I've reported extensively on the rise of AI as a cultural and business force shaping the media industry, and more broadly how those dynamics are changing how we all consume and share information and relate to one another. I'm also fascinated by public health policy and ethics, the role of emerging tech in politics and governance — and the powerful people and forces at those intersections — climate change, and the environment. My investigation on Sports Illustrated's use of AI-generated authors with fictional biographies won a 2024 Mirror Award for "Best Story on Media Coverage of Artificial Intelligence in Journalism and the Media" from Syracuse University's SI Newhouse School, I contributed to Niemen Lab's 2025 Predictions for Journalism series, and I've discussed my work for Futurism during appearances on NPR, CNN, the BBC, the CBC, and more. I grew up in rural Pennsylvania and attended the University of Massachusetts Amherst, where I played Division I field hockey for the Minutewomen as a midfielder. Since then, I've lived in New Orleans, Louisiana and Manhattan, New York. I spend my free time running, reading, perusing archival fashion, and searching for the world’s best negroni. I also have a debonair tuxedo cat, Westley, who's named after "The Princess Bride." ### Author social links [Bluesky]()