The collapse of crypto hedge fund Three Arrows Capital (3AC) has entered a new phase as liquidator Teneo prepares to sell the firm’s $21 million NFT portfolio, excluding the controversial ‘Starry Night Portfolio.’ This massive liquidation represents a critical step in recovering assets for creditors owed $3.5 billion following 3AC’s implosion during the 2022 crypto market turmoil. The sale includes hundreds of high-profile NFTs from renowned collections like CryptoPunks, Bored Ape Kennel Club, and Autoglyphs, marking one of the most significant NFT liquidations in cryptocurrency history.
about 3AC Liquidator to Sell $21M NFT Portfolio in BankruptcyTom Wan
0 posts last week3AC Liquidator to Sell $21M in NFTs, Excluding Starry Night
Teneo, the liquidator for bankrupt hedge fund Three Arrows Capital (3AC), has revealed plans to sell $21 million worth of NFTs held by the firm, excluding the Starry Night Portfolio. The sale, set to begin 28 days after the notice, includes NFTs from renowned collections such as Bored Ape Kennel Club, Autoglyphs, and CryptoPunks. The decision aims to maximize asset recovery for creditors, as 3AC owes $3.5 billion to 27 companies following its collapse triggered by the Terra Luna crash. The liquidator has moved Starry Night Capital’s NFTs to a separate wallet, while high-value pieces like PEGZ and Otherdeeds will be auctioned.
about 3AC Liquidator to Sell $21M in NFTs, Excluding Starry Night