- The rare Bored Apes prized NFTs are at liquidation risk due to FTX’s trading strategy.
- Almeda Research performed the risky transaction as a part of its NFT trading Strategy.
- The NFT collection consists of 31 rare finds that cost around 4000 to 5000 ETH.
FTX, the cryptocurrency exchange’s blowup of selling to competitor Binance amongst the worries of the Liquidity of various NFT Assets. The crypto empire of Sam Bankman-Fried trembles upon the brink of solvency crisis amongst the recent issues related to liquidity under the takeover by Binance. One of the significant assets for FTX is a trove of prized bored apes worth millions of dollars, of which wallet is handled by FTX’s financial partner Almeda Research.
The Bored Apes NFT is a collection of 31 rare NFT finds from the Bored Ape Yacht Club Collection owned by NFT powerhouse Yuga Labs. The collection consists of four “Trippy Fur” bored apes and three bored apes with “Gold Fur” that would be around the floor price of 1000ETH and 599ETH, respectively. It is known that FTX Ventures, a wing of the Crypto empire, was a renowned investor of the Yuga Labs, and its wallet was handled by Almeda Research, who has traded the rare NFTs as a part of its prominent NFT trading strategy.
The collection is of an estimated 4000 to 5000 ETH worth $4.7 Million to $5.8 Million, according to the valuation of the site DeepNFTValue. The value is more than enough for FTX to cover itself, given how badly it is currently facing a financial loss.