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GARAGE

When coffee smells of money

Claudia Chong

Claudia Chong

Published Mon, Oct 2, 2023 · 10:44 PM
    • Indonesia's move to stop social media companies from facilitating e-commerce payments on their platforms is clearly directed at TikTok, writes Garage correspondent Claudia Chong.
    • Indonesia's move to stop social media companies from facilitating e-commerce payments on their platforms is clearly directed at TikTok, writes Garage correspondent Claudia Chong. BT SCREENSHOT

    LAST Friday was shaping up to be a quiet end to a hectic week. Then, at 9.40 pm, liquidators of the failed crypto hedge fund Three Arrows Capital told us that frontman Zhu Su had been arrested at Changi Airport.

    Zhu is a controversial figure. Previously said to be a visionary and one of crypto’s biggest billionaires, he and Three Arrows co-founder Kyle Davies made heavily leveraged bets that later went sour and dragged the industry down together with the firm.

    But Zhu has maintained that he did nothing wrong. After Three Arrows collapsed, he took the summer off and travelled around. In Bali, he learnt how to surf.

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