ZHANG Shousheng, founder of DHVC (Danhua Capital) and professor of physics at Stanford University, died on December 1 at the age of 55. According to Sina Finance, ZHANG probably committed suicide by jumping off a building, partially because of the unexpected staggering losses of his blockchain investment.
ZHANG is a condensed matter theorist known for his work on topological insulators, the quantum Hall effect, the quantum spin Hall effect, spintronics, and high temperature superconductivity.
He is a fellow of the American Physical Society and a fellow of the American Academy of Arts and Sciences. ZHANG received the "Nobel-class" Citation Laureates by Thomson Reuters in 2014.
Founded in 2013, DHVC invested about 55.4% of its capital in a number of blockchain projects, such as public chains, scaling schemes, decentralized agreements, and encrypted and security technologies.
The company entered the blockchain industry in 2014 and tried to invest only a bit of its money in the following two years. Starting from 2017, DHVC became investors of NEO, Ontology, Zilliqa, EXX and Brave, which turned out to be quite profitable. The market cap of NEO is currently $467,669,276, around 121,580 BTC.
In the year of 2018 alone, DHVC put huge money on a series of crypto exchanges including FCoin, Hydro, SFOX, Bgogo.com, CoinPark and so on. Yet two of these exchanges, namely, FCoin and CoinPark, had shrunk significantly in value, which made DHVC take an enormous loss. At the time of writing, the FCoin Token (FT) declined to $0.014 from its peak of $1.254. Its market cap once reached $828 million before plummeting to less than $29 million. CoinPark is even worse as the project is almost a "dead" one with no liquidity, technical maintenance or transactions.