Sotheby's will hold sales of the "Grails" art collection, consisting of NFT artworks belonging to bankrupt crypto hedge fund Three Arrows Capital and its NFT-purchasing fund Starry Night Capital. The collection includes pieces from prominent NFT artists and projects, such as Larva Labs' Zombie CryptoPunk and Dmitri Cherniak's The Golden Goose. The collection will be released in chapters across various sales formats, from private sales to auctions, in multiple locations globally. Singapore-based Three Arrows Capital filed for Chapter 15 bankruptcy last year, owing over $3 billion to its creditors. In February, Three Arrows Capital's US-based liquidator Teneo said it plans to sell NFTs owned by the company with an estimated value of $22 million at the time of the bankruptcy filing. (forkast)

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.

OPNX, a Seychelles-based exchange attempting to tokenize crypto bankruptcy claims, has faced criticism for its low trading volume, which was less than $13,000 on its opening day. Despite a significant 90,000% jump in trading volume by April 9, the nominal value remains low. OPNX handled jokes about its low trading volume on Twitter with grace and humor, with one user joking about wash-trading Bitcoin to bump the stats artificially. However, there are ongoing doubts about the viability of OPNX due to the collective track record of its founders, who were involved in the bankruptcy of Three Arrows Capital and CoinFLEX's extension of an uncollateralized revolving credit line to Roger Ver. The crypto community has raised skepticism over OPNX's viability, the valuation of bankruptcy claims, and whether users will get a fair price for them.

There have been rumors circulating on Twitter that co-founders of Three Arrows Capital, Su Zhu and Kyle Davies, have raised a significant amount of money from the Bahrain sovereign wealth fund

OPNX, the crypto exchange created by Su Zhu and Kyle Davies——the founders of the bankrupt cryptocurrency hedge fund Three Arrows Capital, launched on April 4th. The platform's launch includes the distribution of its native token, FLEX.

The US judge overseeing the liquidation of Singapore-based Three Arrows Capital has given co-founder Kyle Davies a second order to turn over financial records or be held in contempt. Earlier, liquidators had accused Davies of withholding information, and asking him to turn over documents.

The co-founder of Three Arrows Capital, Kyle Davies, has been ordered to respond to a subpoena within two weeks. The subpoena was issued by the US Securities and Exchange Commission (SEC), and is part of an ongoing investigation into potential securities violations related to cryptocurrency trading.

The extradition of TerraForm Labs founder Do Kwon from Montenegro has been requested by both the U.S. and South Korea, Justice Minister Marko Kovac said at a Wednesday press conference.

Kyle Davies and Su Zhu, founders of crypto hedge fund Three Arrows Capital (3AC), have been ordered to attend court in the British Virgin Islands on December 19 as part of the liquidation proceedings for the fund, which collapsed last year. The founders will be found in contempt of court if they fail to reply to the order. They are required to provide liquidators with all documents relevant to the firm's bankruptcy by April 14. 3AC imploded last June as a depressed crypto market exposed the firm's long-only trading strategy. The collapse triggered similar collapses from multiple other crypto firms. Companies with 3AC exposure, such as Voyager Digital, Celsius, and Genesis Asia Pacific, subsequently filed for bankruptcy.

Less than a year after Three Arrows Capital (3AC) imploded along with $2.5 billion of clients' money, the hedge fund's founders, Su Zhu and Kyle Davies, are back with a new cryptocurrency exchange where people can trade bankruptcy claims – a hot area given all the distress in the industry.