Liquidators of bankrupt hedge fund Three Arrows Capital Ltd. said they will take steps to sell some of the firm’s nonfungible tokens as part of their recovery efforts, Bloomberg News reported. “The purpose of the sale is to realize the value of the NFTs for the purposes of the liquidation,” Christopher Farmer, senior managing director at advisory firm Teneo wrote in a notice on Wednesday. The steps will commence after March 23, the notice said. The document did not provide details of the NFTs up for sale, but clarified that these do not include the popular “Starry Night” Portfolio. The latter is an NFT-focused fund that was started by Three Arrows co-founders Su Zhu and Kyle Davies during the crypto craze in 2021. Three Arrows collapsed last year after a series of mistimed bets and soured crypto prices triggered margin calls. It previously managed around $4 billion in assets. Its founders have since been sparring with the court-appointed liquidators charged in June with unwinding their assets. The liquidators have alleged lack of cooperation from the founders and recently subpoenaed them via their Twitter handles.
