Hu Zhewen Seeks $500M+ from Jump Trading, Zhang Yongfeng

Chinese investor Hu Zhewen has filed two separate lawsuits against Jump Trading and computer professor Zhang Yongfeng, seeking at least $500 million in damages. The suits stem from significant losses experienced by Hu across multiple major cryptocurrency market cycles.

Hu's investments have had mixed results: he reported earning more than 1,000 times his initial investment in the blockchain project Stratis. However, between May 2021 and May 2022, he lost millions on TerraUSD (UST) and its sister token LUNA, which saw a value increase to over $800 million before plummeting nearly to zero.

Hu has also accused Zhang of securities fraud and other wrongdoing in connection with an investment in a token issued by an organization founded by Zhang. The token fell more than 99.6% from its 2025 peak, resulting in significant losses for Hu.