Bankrupt crypto hedge fund 3AC’s NFT auction fetches $2.5M
Three Arrows Capital is currently undergoing bankruptcy proceedings and owes an estimated $3.5 billion to creditors. The auction for parts of bankrupt Singaporean crypto currency hedge fund Three Arrow Capital's (3AC) nonfungible tokens (NFT) collection fetched a total of $2.5 million at its conclusion on May 19. Facilitated by fine arts broker Sotheby's, highlighted collectibles on sale include Tyler Hobbs Fidenza #725, Larva Labs Autoglyph #187, and Tyler Hobbs Fidenza #861. The highest sale amount was Tyler Hobbs Fidenza #725 at $1.0 million. In response to the news, Kyle Davies, co-founder of 3AC, wrote: "NFT grails mooning on Sothebys, WorldCoin scanning millions of eyeballs, Aptos the next Solana 3AC Portfolio is on [Fire]." Previously, Davies wrote "Farewell sweet Goose" in response to the commencement of the auction. At the same time, fellow co-founder Su Zhu said "Sent a few of them the Sothebys auction results, and the response is *cricke...