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Bankrupt Singaporean cryptocurrency hedge fund's NFT auction fetches $2.5 million with Tyler Hobbs Fidenza #725 selling for $1 million.

An auction of nonfungible tokens (NFTs) from bankrupt cryptocurrency hedge fund Three Arrows Capital's collection, facilitated by Sotheby's, has concluded with a total of $2.5 million in sales. The highest sale was Tyler Hobbs Fidenza #725, which sold for $1 million. Co-founders Kyle Davies and Su Zhu have responded to the news with mixed reactions, with Davies opening a restaurant in Dubai and Zhu securing a restraining order against BitMEX co-founder Arthur Hayes. The NFTs were recovered by liquidators after 3AC filed for bankruptcy last July, and the firm reportedly owes creditors a total of $3.5 billion.

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