Chinese poker master and crypto investor Hu Zhewen has filed lawsuits against Jump Trading and Rutgers University professor Zhang Yongfeng following significant losses across three consecutive crypto market cycles. Hu is seeking at least $500 million in damages from Jump Trading and its affiliated entities in a Chicago court after his investments collapsed. Hu previously invested approximately $80 million in TerraUSD (UST) and LUNA between May 2021 and May 2022, with holdings peaking above $800 million before the tokens fell to near zero. More recently, he sued Zhang for securities fraud after investing millions in tokens issued by Zhang's institution, which have declined over 99.6% from their 2025 peak. Despite earlier success with Stratis yielding returns exceeding 1,000x, Hu's subsequent bets on algorithmic stablecoins and AI tokens have resulted in substantial financial losses.