The saga surrounding Wu-Tang Clan‘s singular album,”Once Upon a Time in Shaolin,” continues to unfold with new revelations about its ownership journey. This unique musical artifact, famously purchased by “pharma bro” Martin Shkreli for approximately $2 million in 2015, has been a subject of intense secrecy and government intervention.
Following Shkreli’s 2018 conviction for securities fraud,the album was seized by the U.S. government. For years, it was widely reported that the government had directly sold the album to PleaserDAO, a collective known for its involvement in NFTs.However, recent reporting by Bloomberg, based on newly released FOIA documents, clarifies this narrative.According to thes documents, the U.S. government initially sold the album to another entity before PleaserDAO’s acquisition in 2021. Bloomberg, after pursuing legal action to obtain more information on the heavily redacted case, has identified the initial buyer. WTC Endeavours limited, a company established in Hong Kong specifically for the purpose of acquiring the album in 2020, purchased it from the government for $2,238,482.30, a sum that represented Shkreli’s outstanding debt to the government at the time. WTC Endeavours Limited was subsequently dissolved in 2023, two years after PleaserDAO acquired the album through crypto payments equivalent to $4 million. The Department of Justice has reportedly confirmed that PleaserDAO had no direct connection to the initial corporate buyer or the individual who purchased the album from the government.
Details about WTC Endeavours Limited remain scarce, with reports indicating that the affiliated officers are not widely known figures.
Martin shkreli, formerly the CEO of Turing Pharmaceuticals, gained notoriety for his controversial decision to increase the price of the life-saving drug Daraprim by 5,000%. this action cemented his reputation as a symbol of pharmaceutical price gouging.Shkreli was incarcerated in 2018 for securities fraud. During his time in prison, he reportedly formed a relationship with a journalist who subsequently left her husband for him. Since his release,Shkreli and the journalist have separated,and Shkreli has become actively involved in the cryptocurrency community.
“Once Upon a Time in Shaolin” is a 31-track album meticulously crafted by Wu-Tang Clan over an extended period. its sale included a stipulation that it could not be commercially released until the year 2103, keeping its contents largely a mystery to the public. However, opportunities to hear portions of the album may arise through exclusive invitations.