SNEAK PEEK
- This is the first time in four months when non-fungible tokens have been moved out of Starry Night’s address.
- The new wallet with the tokens is worth 625 ETH.
- Certain issues are ongoing with Three Arrows Capital.
300 plus NFTs along with certain really valuable and worth millions of dollars have been moved out of an address that’s related to Starry Night Capital.
These NFT collections are Fidenza, creator XCOPY’s work, Rare Pepe and CrypToadz. Talking about the new address where the tokens have been moved, now holds a value of worth 625 ETH which is about $839,000.
In four months, this is the only time when the addresses of the NFTs have changed. This is the same time when issues with Three Arrows Capital, the crypto hedge fund that backed establishing Starry Night Capital, have taken place.
After the collapse of Terra stablecoin ecosystem in May, Three Arrows Capital couldn’t meet margin calls for BitMex, FTX, Deribit and various other exchanges. Towards June end, Teneo, a New York-located financial advisory company, liquidated Three Arrows.
Three Arrows founders Kyle Davies and Su Zhu along with Vincent Van Dough, an NFT collector, launched Starry Night Capital in August last year.
