#auction

The U.S. government is poised to significantly increase its funds following a Supreme Court ruling that opens the door for the sale of 69,370 BTC, seized from the notorious Silk Road dark web marketplace.

FTX Estate is set to auction 22.3 million Worldcoin (WLD) tokens at a significant discount, currently valued at $35 million. This sale is part of the ongoing efforts to recover funds for creditors of the bankrupt crypto exchange founded by Sam Bankman-Fried.

“FTX 2.0 would be worse than starting from scratch. No team, no tech, no licenses, no banking, tarnished brand. The trustee should just auction off the domain and trademark to the highest bidder. Anything beyond that is simply a fee extraction attack on delusional creditors,” — tweeted Kraken founder. Who would actually be interested in buying FTX?

Sotheby’s Gen Art Program, featuring works by the 99-year-old artist Vera Molnár, made a sensational debut, with all pieces selling within an hour above the base price of 1.5 ETH. The auction culminated in 631 ETH, equivalent to $1.2 million. Molnár’s artworks present intricate algorithmic transformations, converting hand-drawn variations of letters N, F, and T into captivating black-and-white graphics with mesmerizing color combinations.

At Genesis' first bankruptcy hearing, the company's lawyer expressed confidence that it would resolve its disputes with creditors by the end of the week. Genesis plans to exit the bankruptcy in 4 months from now. The company plans to pay employees and vendors first, and then to auction off its assets to pay creditors by May. A simple calculation of the math shows that Genesis holds $5 billion in assets and liabilities, while its debt estimates to $3.4 billion.