Three Arrows Capital’s NFT collection to be liquidated By Cointelegraph
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Three Arrows Capital’s NFT collection to be liquidatedTeneo, the liquidation firm in charge of the Three Arrows Capital (3AC) bankruptcy process, confirmed in a statement to Cointelegraph on Oct. 5 that it has custody of the NFTs moved from addresses related to Starry Night Capital, a fund launched by the co-founders of the now-bankrupt hedge fund.
According to the firm, the collection move was part of the liquidator’s duty of identifying assets and maximizing recoveries on behalf of all creditors. A report from Bloomberg estimated that the Starry Night Capital collection’s total value sits at around $35 million. It represents only a tiny fraction of the 3AC’s debt of $2.8 billion to its creditors.
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Three Arrows Capital’s NFT collection to be liquidatedTeneo, the liquidation firm in charge of the Three Arrows Capital (3AC) bankruptcy process, confirmed in a statement to Cointelegraph on Oct. 5 that it has custody of the NFTs moved from addresses related to Starry Night Capital, a fund launched by the co-founders of the now-bankrupt hedge fund.
According to the firm, the collection move was part of the liquidator’s duty of identifying assets and maximizing recoveries on behalf of all creditors. A report from Bloomberg estimated that the Starry Night Capital collection’s total value sits at around $35 million. It represents only a tiny fraction of the 3AC’s debt of $2.8 billion to its creditors.
Continue Reading on Coin Telegraph
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