Shady issues are afoot within the beleaguered world of bankrupt crypto hedge fund, Three Arrows Capital. Not too long ago, it noticed its important ‘Starry Night time’ NFT assortment shifting location to the digital model of a ‘protected home’.
Final 12 months, Three Arrows got here up with a grand plan to build up a $100 million NFT assortment. Consequently, organising ‘Starry Night Capital’ to care for their non-fungible enterprise. By way of this endeavour, the venture spent an estimated $35 million on a sequence of excessive profile NFTs, all earlier than Three Arrows wheels got here off, leaving the corporate a exceptional $3.5 billion in debt.
NFTs beforehand collected by Starry Night time Capital are shifting to a Gnosis Secure handle.
These NFTs embrace:
– Pepe the Frog NFT Genesis, offered for 1,000 ETH (~$3.5M) on Oct 5, 2021
– Fidenza #718, offered for 240 ETH (~$1.1M) on Nov 13, 2021
Another notable NFTs beneath👇 pic.twitter.com/8PU13CqMnn
— Nansen 🧭 (@nansen_ai) October 4, 2022
Now, as investigators take a more in-depth have a look at Three Arrows wheeling and dealings, the treasure trove of artworks and collectibles has begun to maneuver, with knowledge analytics agency Nansen reporting that 383 property had moved to a Gnosis Secure handle. Basically, an ultra-secure crypto pockets that requires a number of distinctive signatures to entry, which means that the actions signify a coordinated transfer to relocate the gathering of NFTs.
In keeping with sources, the gathering incorporates quite a few excessive worth NFTs, together with a Pepe the Frog genesis NFT, a number of CryptoPunks, and three unique XCOPY artworks. Nevertheless, highlighting the poor funding choices that acquired Three Arrows Capital the place they’re at this time, Nansen now values all the assortment at an estimated $846k.
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