On the verge of bankruptcy, Three Arrows Capital allegedly owns $7.5M worth of NFTs
The Singapore-based cryptocurrency hedge fund Three Arrows Capital (3AC), which filed for bankruptcy last week, allegedly owns Cryptopunks, Bored and Mutant Apes, and other NFTs worth more than $7.5 million.
According to the data by Dune Analytics, 3AC owns the following NFTs:
- 11 CryptoPunks worth $3,012,393
- 330 Art Blocks Curated worth $2,482,149
- 8 PEGZ worth $613,273
- 4 DeafbeefV2 worth $564,018
- 3 Autoglyphs worth $304,025
- 7 Art Blocks worth $125,239
- 2 Mutant Ape Yacht Club worth $122,348
- 7 Chromie Squiggle worth $73,784
- 1 Bored Ape Yacht Club worth $61,909
- 4 Cypher worth $48,923
The total value of 3AC’s wallet is $42,320,645, with most holdings in stablecoins. There haven’t been any transactions since June 21.
The company’s liquidation has been ordered by a court in the British Virgin Islands, and a chapter 15 bankruptcy has been filed in New York. Some sources mentioned that 3AC, which had $10 billion in assets under management earlier this year, has failed to pay back a $670 million loan from crypto broker Voyager Digital.
The co-founder of 3AC, Su Zhu, is allegedly selling his $35-million mansion in Singapore.
According to The Wall Street Journal, Three Arrows Capital had invested $200 million in Luna, which collapsed in May this year. The massive dip in crypto asset prices caused even more severe financial problems for the company.
The fall in the cryptocurrency market cap saw billions of assets wiped out, with more crypto companies succumbing.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
