The enormous FTX collapse in recent days has led to the cryptocurrency exchange’s filing of Chapter 11.
Billions of dollars in assets are now part of a process that can take months to complete. Investors and customers of FTX are most likely going to recover only a small percentage of their contributions.
FTX utilized famous celebrities such as NFL quarterback Tom Brady, supermodel Gisele Bundchen, and comedian Larry David to promote itself as the investors’ choice; they are now part of a class action lawsuit.
FTX on Instagram
The domain FTX.com was part of a multi-million dollar sale 3 years prior to the company’s formation, to an unrelated party. Meanwhile, FTX founder and former CEO, Sam Bankman-Fried, has remained in the Bahamas where the company’s HQ was located.
The illustrious prodigy founder reportedly acquired the domain name SBF.com a while ago to match his initials; now both FTX.com and SBF.com are in danger of becoming part of the asset liquidation. SBF.com was last recorded as sold via Sedo in 2011, for the price of $3,800 dollars.
SBF.com forwards to the domain FTXFoundation.org, another portal of the FTX crypto-empire that was most likely used as a goodwill front.
Another domain used for similar purposes is FTX-Climate.com, where the crypto-currency boffins are proclaiming their alleged love for the environment and green energy:
One of the things we’ve loved seeing when starting FTX Climate is the number of smart and passionate people working in this space. There are tons of free resources to learn almost anything you want about the environment or climate change. When trying to decide where to start our program we would read headlines about the billions of dollars being poured into this space, but noticed many organisations that were limited by funding. We believe that the work these organisations are doing can lead to significant changes, much greater than if we had just spent the money on the issue directly.
Surely a mess that the FTX estate liquidators will look into in the weeks and months ahead.
