Crypto Funds Scoop Up Metaplex (MPLX) Tokens from Bankrupt FTX
CryptoNewsTerminal Staff09 Sep, 2024
Crypto Funds Scoop Up Metaplex (MPLX) Tokens from Bankrupt FTX
Multiple crypto funds, including Pantera Capital and ParaFi Capital, have purchased millions of Metaplex (MPLX) tokens from Wave Digital Assets, an entity owned by the bankrupt FTX. This transaction highlights the increasing interest in the non-fungible token (NFT) space despite the recent market downturn. FTX had acquired a sizable stake in Metaplex, a decentralized autonomous organization (DAO) that supports the development of the Solana NFT ecosystem. Following FTX's collapse, Wave Digital Assets was tasked with selling off the exchange's assets. The Block reported that over the past five months, Wave Digital Assets has sold around 62.6 million MPLX tokens through private placements. The remaining 7.5 million tokens are scheduled to be unlocked on September 19th, 2023.
