Teneo, the liquidator of the bankrupt cryptocurrency company Three Arrows Capital (3AC), has made some interesting transactions, according to onchain data.
According to the data, the organization moved 2.18 million Starknet (STRK) tokens, worth approximately $2.63 million, to Binance in the last three days. These appear to be STRK tokens that Teneo recovered from 3AC and sold to pay its buyers.
Notably, Teneo currently owns another 130 million STRK in Three Arrows Capital's bankruptcy assets. This corresponds to approximately 157 million dollars.
With $157 million in assets, Teneo is the second largest holder of STRK tokens, excluding developer and exchange wallets.
Starknet has a total market cap of $1.4 billion, meaning Teneo owns approximately 10% of the total STRK supply in assets.
However, almost 90% of STRK tokens are still uncirculated, bringing the token's fully diluted market value to approximately $12 billion.
After Ethereum founder Vitalik Buterin claimed $1.07 million worth of STRK tokens yesterday, the STRK price dropped approximately 6%.
*This is not investment advice.