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”The Collapse of FTX”
Material: Original, Mixed media, acrylic on canvas with 24 carat gold
Size: 120x90 cm and 4 cm wide
KEY TAKEAWAYS
* FTX collapsed in early November 2022 following a report by CoinDesk highlighting potential leverage and solvency concerns involving FTX-affiliated trading firm Alameda Research.
* FTX’s collapse shook the volatile crypto market, which lost billions at the time, falling below a $1 trillion valuation.
* FTX in November 2022 faced a liquidity crisis and searched for bailout funds; rival exchange Binance considered buying portions of the company but quickly backed out.
* By Nov. 11, 2022, FTX’s CEO stepped down and the company filed for bankruptcy.
* In the hours following, FTX experienced a possible hack in which hundreds of millions worth of tokens were stolen.
* FTX founder and ex-CEO Sam Bankman-Fried was arrested in The Bahamas and extradited to the United States in late December. He pleaded innocent to all criminal charges on Jan. 3, 2023.
This Lot Includes:
Physical Artwork:
- Dimensions: 90 x 120 cm
- Materials: Original, Mixed media, acrylic on canvas with 24 carat gold
NO RESERVE
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