This week, FTX debtors issued a press release and 20-page document noting that the bankruptcy trustees found $5.5 billion in liquid assets. The document details how investigators discovered fiat currencies, crypto assets and securities as part of FTX and Alameda Research’s cache. However, the disclosure to unsecured creditors does not mention the enormous stockpile of elusive tokens the company has accumulated over the years.
FTX and Alameda’s liquidated assets include thousands of NFT and ENS titles
FTX affiliate and quant trading firm Alameda Research has been heavily involved in the non-fungile token (NFT) hype since 2021. In fact, after FTX and Alameda filed for bankruptcy protection, our news desk did a lot of Alameda analysis. /FTX-related wallets and discovered thousands of NFT and Ethereum Name Service (ENS) names.
Discoveries were made from wallets labeled By block explorer Larry Cermak and cryptocurrency monitoring software Arkham Intelligence and analyzed data from dappradar.com’s portfolio review. For example, the address “0x116” associated with Alameda has about $100,000 in crypto tokens, but has 107 ENS names. It is possible that Alameda thought it could change the ENS names in the future because the firm acquired so many generic names.
Alameda and now eliminators have ENS names like “tickets.eth”, “payment.eth”, “network.eth”, “dungeon.eth”, “packager.eth”, “nootropic.eth”, “breakfast.eth”. ,” and more. Most aren’t worth much, but some specific ENS names like “payment.eth” and “network.eth” sold for $9,000 each. In a 20-page presentation to FTX’s unsecured creditors, Alameda’s ENS name collection is not mentioned.
In January of last year, there was a lot of controversy when Cryptopunks and Bored Ape Yacht Club (BAYC) hit the scene with several mirrored non-fungible token (NFT) collections that copied the artwork of NFTs. Interestingly, Alameda’s ETH address “0x0f4” has a large number of unofficial “converted” Cryptopunks and “mirror” BAYC NFTs.
The address “0x0f4” holds 2447 NFTs from 629 different NFT collections in the wallet. Alameda’s “0x0f4” collected NFTs from compilations like Time Frog, Party-Animals, Metawarden, Shrouded Playground, and dozens of relatively unknown NFT collections.
Alameda also collected blue-chip non-fungible tokens (NFTs), and records show the firm acquired 11 legitimate Cryptopunks worth a total of $784,000. The trading platform purchased seven different Art Blocks Curated on January 20, 2023, with an estimated value of approximately $1.47 million.
Alameda and now the liquidators own 81 land NFTs from The Sandbox with a total value of $155,000. Alameda also acquired two OtherDeeds, currently worth about $25,000, and 12 different Meebits, worth about $88,000 today. Many blue chip NFTs can be found at the ETH address “0xca4”.
This particular wallet holds Alameda’s most valuable NFTs, including Otherdeed land titles and two Mutant Ape Yacht Club (MAYC) NFTs worth approximately $50,000. Larry Cermak’s Alameda address list highlights approximately 29 different Ethereum addresses. In addition, Arkham Intelligence data shows that there are 68 addresses linked to the Alameda Research quantitative trading platform.
A decent handful of wallets hold NFTs from a large portion of Alameda addresses. Most of these wallets are believed to be managed by the FTX bankruptcy team and liquidators. In tokens alone, Alameda’s 68 connected Ethereum-based wallets show a net worth of about $189.12 million.
What do you think about Alameda’s involvement 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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