More than 300 NFTs, including some worth millions of dollars in crypto, were moved out of an address associated with Starry Night Capital.
The NFT collections represented in the move include Rare Pepe, Fidenza, CrypToadz and works from creator XCOPY, the blockchain data firm Nansen tweeted. In all, the new address to which these NFTs were moved is now worth 625 ETH, or over $839,000.
The developments represent the first time the NFTs have changed addresses in four months when trouble with crypto hedge fund Three Arrows Capital, which helped create Starry Night Capital, first began.
Following the Terra stablecoin ecosystem collapse in May, Three Arrows Capital failed to meet margin calls for FTX, Deribit, BitMex and other exchanges. Three Arrows was then liquidated by the New York-based financial advisory firm Teneo at the end of June.
Starry Night Capital was launched by Three Arrows founders Su Zhu and Kyle Davies, along with the NFT collector pseudonymously called Vincent Van Dough, in August of 2021, as The Block previously reported.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
About Author
MK Manoylov is a reporter for The Block covering NFTs, blockchain-based gaming and cybercrime. MK holds a graduate degree from New York University’s Science, Health, and Environmental Reporting Program (SHERP).
Source: https://www.theblock.co/post/174778/more-than-300-nfts-moved-out-of-3acs-starry-night-capital-address-for-the-first-time-in-four-months?utm_source=rss&utm_medium=rss