The cryptocurrency exchange WOO will repurchase shares and tokens from Three Arrows Capital

ChainCatcher news, the encrypted exchange WOO stated in a statement shared with The Block that it has reached a settlement with Three Arrows' liquidator Teneo to repurchase the shares and tokens acquired by the hedge fund in WOO's Series A financing in November 2021. WOO indicated that it plans to proportionally increase the stakes of all other shareholders, while the 20 million tokens being repurchased will be sent to a burn address.

It is reported that Three Arrows Capital was the largest investor in WOO's Series A financing, purchasing equity in WOO as well as 25 million WOO tokens.