- Analyst firm Nansen records NFT move from Starry Night Capital fund.
- This was confirmed by the liquidation company of Three Arrows Capital called Teneo.
- Tokens are going to be sold after receiving the approval of the court of the British Virgin Islands.
- The proceeds will be used to pay off 3AC’s debt to creditors.
Yesterday, October 5, Nansen, an analytics company, announced that unknown people transferred most of the tokens from a 3AC fund called Starry Night Capital. Soon this information was confirmed by a representative of Teneo.
Recall that this company is engaged in liquidating the bankrupt fund Three Arrows Capital. According to the information, the $35 million collection could be sold to pay off the organization’s debts.
Starry Night Capital NFT was created last year in collaboration with crypto activist and philanthropist Vincent Van Doe. It includes popular tokens from collections such as CryptoPunks, Ringers, and Pepe the Frog.
According to a Teneo spokesperson, moving the collection is part of the firm’s obligation to collect and account for all of the fund’s assets. Also, the company does not exclude the possibility of selling the collection to pay off part of 3AC’s debt to creditors.
At the same time, Wang Dou himself takes part in the process. Teneo noted that they want to implement this collection to satisfy all parties.
However, when exactly this will happen is still unknown. The liquidation of assets will require the sanction of the court of the British Virgin Islands, where the 3AC bankruptcy process takes place. Recall that the Three Arrows Capital fund went bankrupt this summer. The company owes about $2.5 billion to creditors. The organization‘s funds are audited by a small firm called Teneo.
