This week, FTX debtors issued a press release and a 20-page document noting that bankruptcy administrators had located $5.5 billion in liquid assets. The document details that investigators discovered fiat currencies, crypto assets, and securities as part of FTX’s and Alameda Research’s cache. However, the disclosure to unsecured creditors does not mention the extremely large stash of non-fungible tokens the company had accrued over the years.
FTX and Alameda’s Liquidated Assets Include Thousands of NFTs and ENS Names
FTX’s inner circle and the quantitative trading company Alameda Research were heavily involved in the non-fungible token (NFT) hype that began in 2021. In fact, after FTX and Alameda filed for bankruptcy protection, our news desk parsed through a large number of Alameda/FTX-associated wallets and discovered thousands of NFTs and Ethereum Name Service (ENS) names.
The discoveries were derived from wallets labeled by Block researcher Larry Cermak and parsed data from the crypto monitoring application Arkham Intelligence and dappradar.com‘s portfolio viewer. For example, the Alameda-linked address “0x116” holds around $100,000 in crypto tokens, but it also holds 107 ENS names. It’s possible that Alameda thought it could flip ENS names in the future, as the firm obtained a great number of common names.
Alameda and now the liquidators own ENS names such as “tickets.eth,” “payment.eth,” “network.eth,” “dungeon.eth,” “packager.eth,” “nootropic.eth,” “breakfast.eth,” and many more. Most are not worth very much, but some of the specific ENS names like “payment.eth” and “network.eth,” have sold for close to $9,000 per name. Alameda’s ENS name collection is not mentioned in the 20-page presentation shown to FTX’s unsecured creditors.
Last year in January, there were a lot of controversies when a few mirrored non-fungible token (NFT) collections appeared on the scene, copying the artwork of Cryptopunks and Bored Ape Yacht Club (BAYC) NFTs. Interestingly, Alameda’s ETH address “0x0f4” holds a massive quantity of unofficial “flipped” Cryptopunks and “mirrored” BAYC NFTs.
The “0x0f4” address holds 2,447 NFTs in the wallet from 629 different NFT collections. Alameda’s “0x0f4” collected NFTs from compilations such as Time Frog, Party-Animals,…
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