Deepak.eth, FTX contagion victim, puts NFT collection for sale on OpenSea


  • The founder of the Chain blockchain infrastructure firm has put their NFT collection on OpenSea for sale starting at 8,000 ETH.
  • The recent events have made legislatures in the United States believe that strict regulations are needed in the crypto industry.
  • Genesis Trading has claimed to have $175 million in an FTX trading account.

Deepak.eth, the founder of the Chain blockchain infrastructure firm, shared on Twitter the sale of their NFT collection. 

According to the tweet, the collection will be sold to someone with the highest bid or will be kept in a “fractional DAO” where they will sell 80% of the holding. The collection is set for 8,000 ETH $1,281 which equals over $10, 258,720 million.  

The collection has high ticket NFTs like Tiffany Punks which will have physical pendants & the NFTiff and a few BAYC characters & Mutants and more. 

Deepak.eth started a Twitter thread on November 10 and called the recent FTX turbulence as the reason behind dipping into the liquidity through their non-fungible tokens.

They shared that though the firm ended the relationship with Alameda, it continued keeping possessions in FTX besides making a considerable deposit in the exchange. Deepak.eth shared that those particular funds are stuck and they are waiting to withdraw them, which is the reason they ended up digging in other digital assets they have. 

Even though recent trading volumes of NFT projects like BAYC are hitting low, NFTs in such series have earlier witnessed market values going into millions.

Some called the collection unnatural and amazing. Also, many others supported Deepak.eth through words of encouragement.

This is undeniably one of the consequences from the FTX scandal. The industry has been damaged with regulators ready to attack and various other exchanges eager to show transparency. 

Market maker and lending subsidiary, Genesis Trading, shared having funds worth $175 million in an FTX trading account. Along with digital asset and blockchain leader, Galaxy Digital, who claims owning $48 million in FTX withdrawals.

Platforms like and Binance have issued their dedication to transparency via future issuing of proof of reserves.