https://twitter.com/0xPrismatic/status/1591613460093325314
Spent some time digging into which NFT projects were significantly affected (or not) by the FTX blowup.
The findings have been both encouraging and sad. Here's what I found so far:
2/ Good news: many of the top NFT collection teams have stated that they have not been materially impacted by the FTX situation.
Not affected by FTX:
- Yuga Labs / BAYC
- RTFKT / Clone X
- Azuki
- Doodles
- Cool Cats
- DigiDaigaku
- Pudgy Penguins
- World of Women
3/ Not affected by FTX blowup (continued):
- TreasureDAO / $MAGIC
- OnChain Monkey
- Truth Labs: Goblintown and Illuminati
Other notable NFT teams:
- @Immutable
: No FTX exposure, 3.5 years cash runway
- @animocabrands
: Minimal FTX exposure, $214M cash balance
4/ A few major teams haven't released a statement about their FTX exposure afaik but I'd like to hear from them (could be wrong, please correct me)
- @moonbirds
- @TheSandboxGame
- @veefriends
- @ParallelTCG
5/ Bad News: Star Atlas has been hit pretty hard, with ~50% of their treasury funds stored on FTX and the game is yet to be completed.
Games of this caliber require a huge amount of $ to develop & market so they're going to need to find additional funding.
6/ NFT teams don't need to show "Proof-of-Reserves" IMO — they are startups and not exchanges/banks
But given the magnitude of the past week's situation, releasing a short statement about their FTX exposure is the minimum we should expect.
Definitely want to shoutout to teams like @pudgypenguins(@LucaNetz) who have even provided details on how their funds are split.
That's a level of transparency many people appreciate and gives us more comfort.
Teams that remain quiet are the most worrisome. I imagine there are more NFT projects that are directly impacted, and we will hear about them in the coming weeks.
My advice to teams: Be open with your communities, you'll find that they are stronger than you think.
Will continue to compile and share the list of known affected/unaffected NFT projects as more is revealed.
Appreciate a RT (first tweet) so we can push for greater transparency in the space.
Indonesia is considering banning Bigo Live and Telegram due to their alleged involvement in spreading pornography and online gambling. Telegram's founder, Pavel Durov, is facing multiple legal charges, further complicating the platform's situation globally.
WeatherlyOpenSea, a large NFT exchange, confirmed that it had received a Wells notice from the U.S. Securities and Exchange Commission, causing the BLUR and TNSR tokens to plunge in unison.
AlexSajie’s legal team said that they recently received an inquiry call from an old friend in the cryptocurrency circle, who said that he was suddenly restricted from leaving the country, so they wrote an article to explain in detail the reasons, inquiry paths and handling methods.
MiyukiDonald Trump has rebranded his crypto platform to "World Liberty Financial," with his sons actively promoting the venture. This move, along with the launch of his fourth NFT collection, is part of a broader strategy to position the US as a global leader in cryptocurrency.
CatherinePlastic surgery didn’t stop South Korean police from arresting the leader of a crypto scam that defrauded investors of 16 billion won (USD 12 million). Despite his extreme makeover, the man was tracked down using surveillance footage, phone records, and internet searches.
KikyoElon Musk and Tesla won a $258 billion lawsuit claiming Musk manipulated Dogecoin's price through tweets. The judge dismissed the case, ruling that Musk's statements were just "aspirational puffery" and not reliable financial advice.
JoyCrypto.com has launched global retail services, allowing users to deposit and withdraw crypto in over 90 countries. The expansion, starting in the UAE, is supported by Standard Chartered and aims to make cryptocurrency transactions more accessible and secure.
WeatherlyThe decentralised social media platform Nostr saw a sharp rise in user activity after Telegram CEO Pavel Durov's arrest in France, as concerns over regulatory interference drive users toward privacy-focused alternatives.
CatherinePrudential Singapore and AI CREATE's "The Dream Creator" will feature AI-driven interactive art at the ArtScience Museum as part of the "In the Ether" festival from 1-30 September 2024. Presented by the ArtScience Museum in partnership with Ethereum Singapore, the festival will showcase the role of blockchain and AI in innovation.
JoyBackstage information on the official website of Trump’s new project World Liberty Financial has been exposed, and the content mentions that he is prepared to provide safe, high-yield cryptocurrency investment opportunities.
Alex