Sotheby's in New York has sold NFTs belonging to bankrupt crypto hedge fund Three Arrows Capital (3AC) in an auction, with the first lot fetching over $2.4 million. The funds will be used to repay the company's creditors.

Sotheby's has completed the sale of several rare non-fungible tokens (NFTs) seized from bankrupt crypto hedge fund Three Arrows Capital (3AC), bringing in $2,482,850 to recoup some of the lost funds. The auction house launched its multi-part sale featuring NFTs from the Grails collection, formed as part of 3AC's asset portfolio primarily in 2021. The highest-priced NFTs from Part 1 of the Grails collection are Fidenza #725 and Autoglyph #187, which sold for $1,016,000 and $571,500 respectively. More NFTs from 3AC's collection will be released in chapters through auctions or private sales in the future.

OPNX – the project created by the defunct hedge fund Three Arrows Capital (3AC) founders – has been controversial from the very start. The exchange has now been reprimanded for conducting unregulated activity.

Dubai's crypto regulator, the Virtual Assets Regulatory Authority (VARA), has formally reprimanded OPNX, a bankruptcy claims exchange set up by the founders of collapsed hedge fund Three Arrows Capital (3AC), for operating an unregulated exchange. The reprimand was sent to OPNX's founders Kyle Davies, Su Zhu, Mark Lamb, Sudhu Arumugam, and CEO Leslie Lamb.

Google Bard Tries To Gain ‘Coding Assist’ Edge Over ChatGPT; Coinbase Set To Launch Base Mainnet Within 2023; DRW Denies Investment in 3AC’s OPNX

DRW denied being an investor in OPNX, founded by 3AC executives, after the exchange said on Twitter it invested along side others.

Sotheby's describes these works, and the collection as a whole, as representing some of the best of contemporary digital art and the generative era.

Auction house Sotheby's is preparing to sell an expansive collection of non-fungible tokens (NFTs) seized from bankrupt crypto hedge fund Three Arrows Capital (3AC).

Algorand was seeking to wind up the Singapore entity of failed crypto fund Three Arrows Capital, with a claim of 53.5 million USD Coin* (USDC).

The bankruptcy claims exchange co-founded by failed Three Arrows Capital (3AC) co-founders Kyle Davies and Su Zhu, OPNX has posted minimal trading volume since going live on Tuesday. The exchange's native token, FLEX, is is down by 28% in the past 24 hours.