This week, FTX debtors issued a press release and a 20-page document saying that bankruptcy administrators had located $5.5 billion in liquid assets. The document details that researchers discovered fiat currencies, crypto assets, and securities as part of the FTX and Alameda Research cache. However, the disclosure to unsecured creditors makes no mention of the extremely large stash of non-fungible tokens that the company had amassed over the years.
FTX and Alameda liquidated assets include thousands of NFT and ENS names
FTX’s inner circle and quant trading firm Alameda Research were heavily involved in the non-fungible token (NFT) hype that began in 2021. In fact, after both FTX and Alameda filed for bankruptcy, our news desk analyzed a large number of Alameda /FTX-socied wallets and discovered thousands of NFT and Ethereum Name Service (ENS) names.
The discoveries were derived from wallets. labelled by block investigator Larry Cermac and analyzed data from crypto monitoring app Arkham Intelligence Y dappradar.comPortfolio Viewer. For example, the address linked to Alameda “0x116” has about $100,000 worth of crypto tokens, but it also has 107 ENS names. Alameda may have thought that he might change ENS names in the future, as the company obtained a large number of common names.
Alameda and now the liquidators have ENS names like “tickets.eth”, “pago.eth”, “network.eth”, “dungeon.eth”, “packager.eth”, “nootropic.eth”, “desayuno.eth, ” and many more. Most aren’t worth much, but some of the ENS-specific names, like “pago.eth” and “network.eth,” have sold for close to $9,000 per name. Alameda’s ENS collection of names is not mentioned in the 20-page presentation shown to FTX’s unsecured creditors.
Last year in January, there was a lot of controversy when some collections of mirrored non-fungible tokens (NFTs) appeared on the scene, copying the artwork of Cryptopunks and Bored Ape Yacht Club (BAYC) NFTs. Interestingly, Alameda ETH address “0x0f4” contains a massive amount of unofficial “flipped” Cryptopunks and “mirrored” BAYC NFTs.
The address “0x0f4” contains 2447 NFTs in the wallet from 629 different NFT collections. Alameda’s “0x0f4” collected NFTs from builds like Time Frog, Party-Animals, Metawarden, Shrouded Playground, and many more from dozens of relatively unknown NFT collections.
Alameda also collected top-tier non-fungible tokens (NFTs) and records show that the firm obtained 11 legitimate Cryptopunks, which together are worth an estimated $784,000. The trading platform purchased seven different curated Art Blocks, which have an estimated value of around $1.47 million as of January 20, 2023.
Alameda and now the liquidators own 81 land NFTs from The Sandbox, which together have an estimated value of $155,000. Alameda also got two Otherdeeds, now worth around $25,000, and 12 different Meebits, currently worth an estimated $88,000. A large number of top-notch NFTs can be found in the ETH address “0xca4.”
That specific wallet contains some of Alameda’s most valuable NFTs, including title deeds to Otherdeed and two Mutant Ape Yacht Club (MAYC) NFTs with a combined value of approximately $50,000. Larry Cermak’s Alameda address list highlights approximately 29 different Ethereum addresses. Additionally, data from Arkham Intelligence indicates that there are 68 addresses linked to the Alameda Research quantitative trading platform.
Of the large swath of Alameda addresses, a decent handful of wallets own NFTs. It is assumed that most of these wallets are controlled by the bankruptcy team and liquidators of FTX. In tokens alone, Alameda’s 68 Ethereum-based connected wallets indicate a net worth of around $189.12 million.
What do you think about Alameda’s participation in the NFT and ENS name markets? Let us know what you think about this topic in the comments section below.
image credits: Shutterstock, Pixabay, Wiki Commons, Editorial credit: Arkham Intelligence visualization, Dune Analytics, dappradar.com,
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