Despite the recent downfall of cryptocurrency, there is a rising trend amongst 'crypto bros' to invest in real assets — specifically, real estate.
Despite the recent downfall of cryptocurrency, it is a rising trend amongst “crypto bros” to invest in real assets — specifically, real estate.For an industry that prizes digital assets, some of its most well-heeled proponents are actually very much into real assets, specifically real estate.
During its heydays, founder of Terraform Labs and the infamous face of algorithmic stablecoin TerraUSD and its sister token Luna, Do Kwon, once lived, and possibly continues to live, at Singapore’s ritzy Nassim Road neighbourhood, one of Singapore’s most exclusive residential enclaves. Back home in Seoul, Do Kwon lived at an equally exclusive and upmarket apartment in Galleria Foret, in Seoul’s posh Seongdong district, on the east side of the capital city.
, or 3AC as it’s better known, one of the most iconic cryptocurrency hedge funds, revealed the almost insatiable appetite for property of its now elusive founders. Although Zhu’s purchase of a two-story, six-bedroom GCB in the tory Yarwood neighbourhood of Singapore for US$35 million made headlines, the 3AC co-founder actually lived in a far more “pedestrian” US$5.25 million “cluster bungalow” at Goodwood Grand.“Cluster bungalows” are also known as “strata-landed housing,” private property that is built in groupings that are relatively close to each other and share communal facilities.
Zhu is also believed to have owned at least one other GCB at Dalvey Road, another high-end enclave in Singapore, where a new two-story house with a basement, attic and swimming pool was expected to have been completed by next year.
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