Three Arrows Capital (3AC) founder Su Zhu’s arrest and imprisonment in Singapore caused the collapse of an altcoin.
3AC co-founder Su Zhu tries to exit the country on September 29 He was arrested at Singapore airport and sentenced by the court. 4 months imprisonment He was sentenced.
Founders of 3AC, who went through a difficult time after the FTX collapse Su Zhu And Kyle Davies, Shortly after the fund’s bankruptcy, he founded a cryptocurrency exchange called Open Exchange. The native token of the exchange after Su Zhu was caught in Singapore Open Exchange Token (OX) suffered a major loss of value. According to CoinGecko data, OX with the news $0.0241 from levels 58% drop to $0.0101 decreased by .
On the other hand, on-chain analysis platform Lookonchain transmitted According to the data, an investor who accumulated OX during the last month 7 thousand dollars worth 304,599 OX from the fall full selling 1 hour ago drew attention.
Later, in another post, Lookonchain warned investors against possible sales pressure. As a matter of fact, it happened as expected and OX experienced a huge decline.
OX, at the time of writing from $0.01483 is being traded.