The Former Singapore Villa of Crypto Hedge Fund Co-Founder Repurposed into Urban Farm
The former Singapore villa owned by Su Zhu, co-founder of cryptocurrency hedge fund Three Arrows Capital (3AC), has undergone a transformation and now serves as an urban farm. The property, purchased for $35.6 million in March 2022, faced an uncertain future following the challenges faced by the cryptocurrency market and 3AC’s subsequent bankruptcy. However, Su Zhu’s wife, Evelyn Tao, who holds a Ph.D. in biology, has repurposed the villa into an urban farm named Yarwood Homestead. The space now incorporates elements of agriculture and aquaculture and houses local vegetables, herbs, fruits, fish, ducks, and chickens. It also serves as the research and development center for Tao’s company, Abundant Cities.
From Crypto Success to Bankruptcy
While the transformation of the villa is underway, 3AC faced bankruptcy after the collapse of the Terra ecosystem. This led to debts of $3.5 billion to 27 crypto enterprises and legal implications for the fund’s co-founders. Su Zhu was recently arrested and received a four-month sentence related to the bankruptcy proceedings, while co-founder Kyle Davies’ whereabouts are still unknown. Both Zhu and Davies have been restricted from engaging in regulated business activities in Singapore by the Monetary Authority of Singapore.
Hot Take: A New Purpose for a Cryptocurrency Relic
In a unique twist of fate, a former symbol of cryptocurrency success has found new life as an urban farm in Singapore. The repurposing of Su Zhu’s villa into Yarwood Homestead showcases adaptability amidst challenging times. Evelyn Tao’s vision for Abundant Cities has transformed the property into a research and development center that combines elements of agriculture, aquaculture, and sustainability. This story serves as a reminder that even in the volatile world of cryptocurrencies, new beginnings and innovative solutions can emerge. The villa’s transformation also highlights the consequences faced by co-founders Su Zhu and Kyle Davies as they navigate the aftermath of 3AC’s bankruptcy.
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