WOO Network buys back shares and 20M tokens from bankrupt 3AC
WOO Network repurchases 20 Million WOO Tokens from 3AC. Woo has also cancelled shares purchased by the Three Arrows Capital (3AC). The 20 Million tokens were sent to a burn address. Taiwan-based liquidity provider, WOO Network, has finalized a pivotal agreement with Three Arrows Capital (3AC) liquidators, marking a significant step in their mission to regain control of their financial future. Three Arrows Capital’s filing for bankrupt cy in July 2021 was triggered by a financial meltdown driven by excessive leverage. This crisis coincided with the tumultuous collapse of the $60 billion Terra Luna ecosystem, in which 3AC held substantial investments. In a move that clears the uncertainty surrounding 3AC’s involvement, WOO Network has repurchased shares and token s initially sold to the bankrupt hedge fund during its 2021 Series A fundraising. 20M WOO Network tokens sent to burn address Besides repurchasing the 20 million WOO Tokens worth app...