Bankrupt crypto exchange FTX now controls several blue-chip non-fungible tokens (NFTs), including Bored Ape, Azuki, Otherdeed, and Mutant Ape. FTX bought most of these NFTs in 2021 while working on its NFT marketplace, purchasing 101 Bored Apes from Sotheby’s for $24.4 million. With FTX's bankruptcy experts consolidating all the NFTs into one wallet, there is speculation that the next step might be liquidating the assets, but any liquidation might hurt the floor price of these collections, which have already slipped significantly. The exchange's management has also continued consolidating the bankrupt firm's assets, including agreeing to sell LedgerX for $50 million and exploring the sale of its European business.

(By Oluwapelumi Adejumo)