Poker Pro's Crypto Blunders: Three Consecutive Losses Worth Hundreds of Millions
Poker pro and seasoned crypto investor Hu Zhiwen has suffered three consecutive losses in the cryptocurrency market, according to Chinese financial news outlet Caixin. He invested heavily in IC0, algorithmic stablecoin TerraUSD (UST) and its sister token LUNA, and AI ($0.20 · Live) tokens during their respective bull runs.
Hu claimed that he had invested in blockchain project Stratis and earned a return of 'over 1,000 times.'
According to disclosed information, Hu invested approximately $80 million purchasing UST and LUNA between May 2021 and May 2022. His holding value peaked at over $800 million but declined sharply after LUNA's price dropped nearly to zero.
Hu has filed a lawsuit against Jump Trading and its affiliated companies, as well as their executives, in the US district court in Chicago, seeking at least $500 million in damages.