On the verge of bankruptcy, Three Arrows Capital allegedly owns $7.5M worth of NFTs


The Trust Project is a worldwide group of news organizations working to establish transparency standards.

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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Disclaimer

Any data, text, or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results.

Agne Cimermanaite

Agne is a journalist and writer with a background in literature, culture, and arts. She entered the Web3 space in 2021 and began writing about cryptocurrency and NFTs. Agne is passionate about technology and storytelling and is always on the lookout for exciting stories.

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