Hu Zhewens Sues Jump Trading and Zhang Yongfeng for at Least $500 Million
By: wenews.caixin.com|09/25/2026 05:15:42
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Professional poker player Hu Zhewens has filed a lawsuit in Chicago against quantitative trading firm Jump Trading and its executives, seeking at least $500 million in damages. Between May 2021 and May 2022, Hu heavily invested in the algorithmic stablecoin TerraUSD (UST) and its sister token LUNA, putting in approximately $80 million, with the holdings peaking at over $800 million before the price of LUNA nearly collapsed to zero. He previously invested in the blockchain project Stratis, achieving returns exceeding 1,000 times. Additionally, Hu has also sued Chinese professor Zhang Yongfeng, accusing him of securities fraud. Last year, Hu invested $1 million to purchase tokens issued by the institution founded by Zhang, which have since fallen over 99.6% from their peak in 2025.
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