{"id":85608,"date":"2023-10-11T18:07:45","date_gmt":"2023-10-11T15:07:45","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85608"},"modified":"2025-09-13T00:23:05","modified_gmt":"2025-09-12T21:23:05","slug":"woo-to-repurchase-shares-and-tokens-from-three-arrows-capital","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/woo-to-repurchase-shares-and-tokens-from-three-arrows-capital\/","title":{"rendered":"WOO to repurchase shares and tokens from Three Arrows Capital"},"content":{"rendered":"

The Bitcoin exchange WOO, at a discount, will repurchase<\/a> through bankruptcy proceedings<\/a> the 3AC tokens and 3AC’s own shares. The move is aimed at “eliminating uncertainty”.<\/p>\n

The initiative will be implemented after reaching such an agreement with the firm Teneo, which represents Three Arrows Capital’s interests in court.<\/p>\n

In November 2021, the hedge fund invested in WOO<\/a> as part of a Series A funding round. The investment vehicle also acquired 25 million platform tokens.<\/p>\n

As a ‘fair solution for shareholders,’ the platform’s management proposed to retire the repurchased shares and proportionally increase their stake.<\/p>\n

Additionally, the platform will burn the repurchased 20 million tokens. The remaining 5 million will be unlocked over the next 12 months.<\/p>\n

In May 2022, after the crypto market crash<\/a> and the Terra collapse<\/a>, reports of possible insolvency at Three Arrows Capital emerged.<\/p>\n

At the end of June, the British Virgin Islands court ordered liquidation<\/a> of the hedge fund. In July, 3AC filed for bankruptcy in a New York court. According to Nansen, the organization managed assets worth about $10 billion.<\/p>\n

In September, the Monetary Authority of Singapore for nine years banned<\/a> the founders of Three Arrows Capital from participating in regulated business activity in the country.<\/p>\n

In Singapore, co-founder Su Zhu of 3AC was detained<\/a> while attempting to depart the country.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin exchange WOO, at a discount, will repurchase from the collapsed crypto hedge fund 3AC its tokens and 3AC’s own shares. The move is aimed at eliminating uncertainty.<\/p>\n","protected":false},"author":1,"featured_media":85609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1352],"class_list":["post-85608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-three-arrows-capital"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=85608"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85608\/revisions"}],"predecessor-version":[{"id":85610,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85608\/revisions\/85610"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/85609"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=85608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=85608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=85608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}