Chain Protocol CEO Is Selling NFT Due To Liquidity Issues During FTX Crash

Chain Protocol CEO said that he is selling NFT to raise funds because the project has liquidity problems when there are tens of millions of dollars locked on FTX.

On November 11, Deepak.eth, a well-known crypto collector, said on Twitter that due to the 8-digit risk in his Chain Protocol project on FTX as CEO, the project The project is currently having liquidity problems, so he decided to sell.

Precious NFT blue chips are kept in bulk for fundraising. Currently, Deepak.eth’s Twitter has listed all the NFTs for sale, indicating that they are looking at an 8,000 ETH bundle or a top-of-the-line sale.

Occupying a large share in the Crypto market, FTX’s liquidity crisis has caused many retail investors and investment funds to struggle. Not just Chain Protocol, crypto lending platform BlockFi today also announced an indefinite pause on customer withdrawals.

Currently, FTX of Sam Bankman-Fried is facing the risk of having to file for bankruptcy because there is no capital to pour in.

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