📉 Crypto exchange WOO Network has entered into an agreement to purchase shares and tokens from Teneo, a company involved in the liquidation of the bankrupt hedge fund Three Arrows Capital (3AC).

- WOO will repurchase more than 20 million WOO tokens and shares acquired by 3AC during its Series A investment round in November 2021.

- As a result of the transaction, WOO will completely sever all ties with the collapsed hedge fund and its creditors.

- 20 million redeemed WOO tokens will be sent to a burn address, removing them from circulation forever.

In this way, WOO removes the uncertainty associated with 3AC and prepares for recovery together with its partners and team.