[Caixin: Poker Pro Hu Zhewen Sues Jump Trading and Chinese Professor Zhang Yongfeng, Three Heavy Bets in Crypto End in Consecutive Losses] According to Caixin, Chinese poker expert and veteran crypto investor Hu Zhewen made heavy bets during three waves of crypto frenzy—ICO, algorithmic stablecoins, and AI tokens—but suffered consecutive losses. Hu Zhewen claimed he had invested in the blockchain project Stratis and achieved a 'more than 1,000x' return. Disclosed information shows that between May 2021 and May 2022, Hu Zhewen invested approximately $80 million in algorithmic stablecoin TerraUSD (UST) and its sister token LUNA. At its peak, his holdings had a market value exceeding $800 million, but the price of LUNA subsequently plummeted to near zero. Additionally, Hu Zhewen has filed a lawsuit in Chicago, USA, against globally renowned quantitative trading firm Jump Trading, its crypto-related subsidiaries, and executives, seeking damages of at least $500 million.