Crypto asset manager Pantera Capital has reportedly won a bid to purchase discounted Solana (SOL) from bankrupt crypto exchange platform FTX. According to a new report by Bloomberg, an anonymous person familiar with the matter says that Pantera won a bid to purchase a discounted stash of the Ethereum (ETH) rival. Though the details of […]
The post Pantera Capital Wins Bid To Purchase a Stash of Discounted Solana From Bankrupt Crypto Exchange FTX: Report appeared first on The Daily Hodl.
One satoshi is currently worth $0.00065 — but some sats hold inherent “collectible value” in the Bitcoin ecosystem, cryptocurrency exchange CoinEx Global explained.
An "epic sat" — an exceptionally rare satoshi that was mined from the fourth Bitcoin halving block — has sold for 33.3 Bitcoin (BTC), worth about $2.13 million.
The sale of the satoshi — the smallest unit of Bitcoin — took place on cryptocurrency exchange CoinEx Global on April 25 — roughly five days after one of its partners, Bitcoin mining pool viaBTC, mined it in block 840,000 on April 20.
The auction, which commenced on April 22, saw 34 bids before an unidentified bidder won ownership rights to the epic sat — with “sat number 1,968,750,000,000,000.”
Bankrupt cryptocurrency exchange FTX is preparing to offload more of its locked Solana (SOL) tokens through an auction, diverging from its previous method of selling at a set price, as announced by Mike Cagney of Figure Markets. This decision follows FTX’s recent sales of SOL tokens, amounting to approximately $1.9 billion and $2.6 billion in […]
Su Zhu and Kyle Davies originally purchased ‘The Goose’ digital artwork in August 2021 for roughly $5.8 million in Ether.
Sotheby’s auction house has sold a piece of digital artwork from the collection of collapsed crypto hedge fund Three Arrows Capital (3AC) for more than $6 million.
According to auction records updated June 15, Dmitri Cherniak’s artwork ‘The Goose’ sold for roughly $5.4 million in addition to Sotheby’s premium fees, totaling just over $6.2 million. The nonfungible token (NFT) artwork was part of 3AC’s digital portfolio assembled in 2021. Su Zhu and Kyle Davies, 3AC's co-founders, purchased ‘The Goose’ in August 2021 for 1,800 Ether (ETH), roughly $5.8 million at the time.
Thesis: we like the Goose. pic.twitter.com/RBI9Axuvac
— 朱溯 (@zhusu) August 27, 2021
Other pieces in the collection auctioned by Sotheby’s included CryptoPunks #291, #6574 and #8950, as well as Autoglyph #218 from Larva Labs. Reports on social media suggested the Punks sold for between $75,000 and $90,000 each.
As one of the first major auction houses to launch a dedicated marketplace for digital artwork and NFTs in 2021, Sotheby’s has sold many pieces relevant to crypto users for upward of millions of dollars. An NFT of the first tweet from former Twitter CEO Jack Dorsey has passed through the auction house, as well as the original manuscript of the book that coined the term 'metaverse.’
Related: Sotheby’s relaunch Glitch digital art sale, newbie gamer uncovers $49K NFT and more
Once a leader in the crypto space, 3AC went bust amid the 2022 market crash, and Zhu’s and Davies' whereabouts have since been largely unknown. In April, the duo backed the launch of a new exchange — OPNX — which claimed to be aimed at “help[ing] the industry” amid the collapse of platforms including FTX and Celsius. However, disgruntled 3AC investors have continued to target the pair through various court procedures in the United States and abroad.
Magazine: NFT art pioneer wants to upload her brain so she can live forever: Josie Bellini, NFT Creator
The luxury auction house has developed a fully on-chain sales system where users can purchase curated NFTs on the Ethereum and Polygon networks.
Luxury auction house Sotheby’s has announced the addition of a new on-chain marketplace that allows digital art collectors to purchase secondary NFTs.
While many pre-existing NFT marketplaces already host peer-to-peer sales of digital artworks — the auction house is attempting to separate itself by offering a “rotating, curated selection of leading artists hand-picked by Sotheby’s specialists.”
The next evolution of #SothebysMetaverse is here! The most trusted and dynamic destination to collect, buy and sell remarkable digital works.
— Sotheby's Metaverse (@Sothebysverse) May 1, 2023
Explore: https://t.co/hZvYIkO3xx pic.twitter.com/dCkaCKlXVm
All NFT sales on the Sotheby's Metaverse platform occur by way of smart contracts that allow digital art collectors to pay for their art and collectibles in a choice of Ether (ETH) or Polygon (MATIC).
Sotheby’s also noted it will honor artist royalties through smart contracts on the secondary sales platform and will automatically pay artists according to the royalty rate they choose to select.
According to a Sotheby’s May 1 announcement on Twitter, the platform will launch featuring works from 13 prominent digital artists, including the pseudonymous artist XCOPY, Claire Silver, Tyler Hobbs and Hackatao.
The 279-year-old British-American clearing house made its first appearance on the NFT scene in April 2021, when it auctioned off the work of a pseudonymous digital artist known as Pak. Since then the art house has conducted a number of record-breaking digital art sales.
Related: Snow Crash manuscript that coined the term ‘metaverse’ to be auctioned by Sotheby’s
On June 11, 2021, Sotheby’s sold a rare CryptoPunk known as “Covid Alien” for a staggering $11.8 million.
Moments ago in our #London saleroom, an extremely rare “Alien” CryptoPunk #7523 from the collection of @sillytuna sold for $11.8M as part of our #NativelyDigital NFT auction – setting a new world auction record for a single CryptoPunk. pic.twitter.com/PDVUSttI3o
— Sotheby's (@Sothebys) June 10, 2021
Just three months later on Sept. 10, Sotheby’s facilitated an action of 101 Bored Ape NFTs that cleared a total of $24 million.
In November 2021 Sotheby’s conducted the largest NFT charity auction in history, auctioning off 140 rare NFTs to raise funds for the nonprofit healthcare organization Sostento.
Magazine: 4 out of 10 NFT sales are fake: Learn to spot the signs of wash trading
Among the pieces being auctioned include a zombie CryptoPunk and Autoglyphs from Larva Labs as well as Dmitri Cherniak’s artwork ‘The Golden Goose’.
Sotheby’s auction house said it will be selling off a digital artwork collection formed as part of collapsed crypto hedge fund Three Arrows Capital, or 3AC.
In an April 19 announcement, Sotheby’s said it would auction off nonfungible token, or NFT, artwork assembled as part of 3AC’s digital portfolio in 2021. The firm will begin the auction with sales of seven NFTs that are part of the ‘Grails’ collection in May, described as “some of the highest quality and rarest works,” according to Sotheby's head of digital art Michael Bouhanna.
Among the pieces being auctioned by Sotheby’s include zombie CryptoPunk #6649 and Autoglyph #187 from Larva Labs as well as Dmitri Cherniak’s artwork ‘The Golden Goose’, purchased by 3AC co-founders Su Zhu and Kyle Davies in August 2021. They paid 1,800 Ether (ETH) — roughly $5.8 million at the time — for the piece.
Thesis: we like the Goose. pic.twitter.com/RBI9Axuvac
— 朱溯 (@zhusu) August 27, 2021
Three Arrows was a crypto-friendly hedge fund that went bust amid the 2022 market crash. As part of the proceedings, advisory firm Teneo said in February it planned to sell off 3AC’s digital collection — excluding the firm’s ‘Starry Night Portfolio’ — in an effort to “realize the value of the NFTs for the purposes of the liquidation.”
“From the outset, the Joint Liquidators of Three Arrows Capital have been conducting a thorough process to identify and recover company assets," Teneo said in a statement to Cointelegraph. "We chose to partner with the Sotheby’s digital art team on the sale of this expansive NFT collection because we believe that they bring a best-in-class approach that will ultimately maximize the value of these assets on behalf of all creditors.”
Davies’ and Zhu’s whereabouts have been largely unknown sin the collapse of 3AC. However, both co-founders have continued to be active on social media channels as Davies risks being held in contempt of U.S. bankruptcy court for failing to answer a subpoena. In April, the pair backed the launch of a new crypto project called Open Exchange.
Related: Sotheby’s relaunch Glitch digital art sale, newbie gamer uncovers $49K NFT and more
Sotheby’s was one of the first major auction houses to launch a dedicated marketplace for digital artwork and NFTs in 2021 amid many pieces going for millions of dollars. Among the pieces included in listings on the platform was an NFT of the first tweet from former Twitter CEO Jack Dorsey, many CryptoPunks, and the original manuscript of the book that coined the term “metaverse.”
Magazine: From SNL and The Tonight Show to Sotheby’s: NFT Creator Bryan Brinkman
According to a court document filed on March 31, 2023, regarding the sentencing of James Zhong, who stole over 50,000 bitcoin from the Silk Road marketplace, the U.S. government plans to liquidate 41,490 bitcoin “over the course of this calendar year.” U.S. Government Discloses Strategy for Selling Confiscated Bitcoin The U.S. government, one of the […]
Over the past week, statistics show non-fungible token (NFT) sales totaled $193.08 million, down 5.44% from the previous week. Ethereum dominated NFT sales with more than $107 million or 55% of all sales, while Solana-centric NFT sales recorded $26.3 million or 13% of sales in the same period. NFT Market Shows Signs of Slowdown With […]
The U.S. government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off two failed American financial institutions, Silicon Valley Bank (SVB) and Signature Bank (SNBY), this week, with bids due by March 17. However, sources familiar with the matter said the qualifications to purchase the banks are stringent, and reportedly, the purchasers cannot deal […]
Regulators are planning another auction for Silicon Valley Bank after the previous attempt to find a new owner failed.
Silicon Valley Bank (SVB) could be returning to the auction block with United States regulators taking a second attempt at finding a buyer for the now-collapsed bank.
According to a Mar. 13 report from the Wall Street Journal, the Federal Deposit Insurance Corporation (FDIC) told Senate Republicans that they now have additional flexibility to sell the bank after regulators declared the SVB collapse a threat to the financial system.
The regulators first attempted an auction of the fallen bank on Mar. 11 — only a day after its closure. Bids were only open for a few hours.
However, the weekend auction reportedly saw no bids from major U.S. banks. There was at least one offer made by another institution — but that was declined by the FDIC.
1/Now that the SVB auction is live, know that we believe them to be a very attractive purchase given relationships and core business.
— samir kaji (@Samirkaji) March 12, 2023
I expect that both banks and private capital will bid and there will be a lot of bids
With SVB declared “systemic,” the FDIC has more leeway to offer incentives for bidders to buy the firm, such as loss-sharing agreements, according to the WSJ. However, a timetable has yet to be set for the second auction.
$SIVB. This is crazy. My understanding is that a lot of these assets have real value. https://t.co/6YgL8FyeoH
— David Adler (@DavidJAdler1991) March 13, 2023
The FDIC is an independent agency of the United States Government created to protect bank depositors from losing their insured deposits when a bank fails; it also helps with the institution's bankruptcy process, selling off any assets and settling debts.
Related: Silicon Valley Bank collapse: Everything that’s happened until now
California's financial watchdog shut down Silicon Valley Bank on Mar. 10 after announcing a significant sale of assets and stocks to raise $2.25 billion in capital and shore up operations.
Global banking giant HSBC has already come to the rescue of the United Kingdom-based branch of SVB, officially announcing on Mar. 13 that its subsidiary, HSBC UK Bank, is acquiring Silicon Valley Bank UK for 1 British pound ($1.21).
