Did 3AC Spent Millions on Junk NFTs?

3AC accused of spending retail investor’s money on junk NFTs

A Reddit user accused 3AC of spending the deposits of Voyager and BlockFi on junk NFTs.

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The user claimed that the exchange has millions from user deposits on “priceless rather worthless NFTs”.

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These NFTs include Slacker Duck Pond, Gutter Cat Gang, Gutter Punks, etc.

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3AC wallets include an NFT fund known as "Starry Night Capital" which has much more NFTs including "Shiboshis" which they bought for almost $10k each.

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Till April, they were buying up all the junk NFTs using the funds borrowed from retail investors via Voyager, BlockFi, and any other centralized lender that was happy to lend to them.

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They bought this one for 800 ETH worth over $2m at the time, and another one called "Arnolfrini Shrimp" for $130k.

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Companies like Voyager kept lending out their customer's deposits to 3AC, who then used it to gamble degenerately on useless NFTs.

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