Three Arrows Capital fund moves over 300 NFTs to a new address

Starry Night Capital, a nonfungible-token (NFT)-focused money launched by the co-founders of the now-bankrupt hedge money Three Arrows Capital (3AC), has moved implicit 300 NFTs retired of its address, according to reports. 

The Starry Night Capital was founded past twelvemonth by Su Zhu and Kyle Davies, and pseudonymous NFT collector Vincent Van Dough. At the time, the money planned to exclusively put successful "the astir desired" NFTs connected the market.

Blockchain information supplier Nansen connected Oct. 4 connected Twitter noted that the NFTs were reportedly shifted from a wallet associated with the fund, including "Pepe the Frog NFT Genesis," which sold for 1,000 Ether (ETH) successful October past year, worthy $3.5 cardinal astatine the time. 

Nansen said the NFTs antecedently collected by Starry Night Capital are moving to a Gnosis Safe address. 

Gnosis Safe is simply a level utilized to negociate integer assets connected Ethereum, giving users implicit self-custody implicit funds and integer assets.

A report from Bloomberg estimates the Starry Night Capital collection's full worth sits astatine astir $35 million.

— Nansen (@nansen_ai) October 4, 2022

It comes months aft the Singapore-based crypto hedge fund, 3AC was ordered into liquidation by a tribunal successful the British Virgin Islands, starring to the assignment of liquidation steadfast Teneo, which has gained control of astatine slightest $40 cardinal of 3AC assets truthful acold arsenic of an August study from Cointelegraph. 

That sum nevertheless accounts for lone a tiny fraction of the 3AC’s indebtedness to its creditors, which amounts to astatine least $2.8 billion.

The NFT's transfers came astir 4 months aft Starry Night Capital's main crypto wallet moved astir each of its integer tokens to a caller address. 

The Singapore-based crypto hedge fund, 3AC, became 1 of the galore crypto firms that went bankrupt pursuing the illness of the Terra ecosystem earlier this year. The company, which erstwhile had implicit $10 cardinal successful assets nether management, eventually filed for a Chapter 15 bankruptcy connected Jul. 1 successful a New York court.