Embattled crypto funding agency Three Arrows Capital (3AC), which has not too long ago filed for chapter, ostensibly holds greater than USD 7.5m value of blue-chip NFTs.
In keeping with information compiled by crypto analysis agency 21shares, 3AC owns a complete of 377 NFTs, which incorporates 11 CryptoPunks, 330 ArtBlocksCurated, 2 Mutant Apes, 1 Bored Ape, in addition to different NFTs from different fashionable collections.
As of now, assuming common costs, 3AC’s NFT portfolio is value USD 7,524,617, based on Dune Analytics.
The corporate’s CryptoPunks, value over USD 3m, account for greater than 40% of that determine. Furthermore, its ArtBlocksCurated NFTs are value round USD 2.5m.
As reported, 3AC has filed for Chapter 15 Chapter. The submitting got here after a British Virgin Islands courtroom ordered the liquidation of 3AC.
Chapter 15 chapter enables “cooperation between U.S. courts and overseas courts” and is often filed in an effort to guard the debtor’s property.
Previous to its insolvency, Three Arrows Capital, spearheaded by Su Zhu, was recognized for its many investments in crypto-related ventures. The corporate reportedly managed as a lot as USD 10 billion in property as not too long ago as March.
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– Celsius’ Positions are Now More healthy, Three Arrows Capital Was a ‘Sufferer of Contagion’ – Nansen