Wednesday, January 18, 2023

Slurp Juice

Never forget that Sam Bankman-Fried is the real thing, and without him, Biden would likely not be president.
Instead, the lot of 101 NFTs sold for $24.4 million, smashing records for Bored Apes. What newly minted patron of the digital arts snagged this for eight figures? Sotheby’s wouldn’t comment on the buyer apart from saying that among those heavily involved in the bidding were legacy art collectors.


Increasingly, it looks as though the buyer was not a traditional art collector or even a human person that other Ape owners could welcome to a club. The blockchain is an opaque-at-best space, but in the months following the purchase, some close observers have settled on the idea that the buyer of the Apes at Sotheby’s was FTX, the crypto exchange that recently crashed and burned, resulting in an inquiry into the possible market machinations of its founder, Sam Bankman-Fried, who is currently charged with crimes related to the overnight disappearance of billions of his investors’ funds in the fall. (Bankman-Fried has pleaded not guilty and, in a statement, said he “did not steal funds.”)