So the idea is that because FTX and Yuga Labs were all mixed up in each other’s business, and because FTX was secretly the buyer of the Bored Apes, then functionally this was a giant wash trade, one step removed. A sham auction whose purpose was to blow up the price of NFTs, and Sotheby is supposed to be culpable because they participated in the sham and lent it legitimacy with their reputation.
That seems like a pretty legit complaint.
I mean, I have no sympathy for the people who got fucked buying NFTs but I have even less sympathy for the people who did the fucking, so absolutely let this lawsuit happen and let them burn.
So the idea is that because FTX and Yuga Labs were all mixed up in each other’s business, and because FTX was secretly the buyer of the Bored Apes, then functionally this was a giant wash trade, one step removed. A sham auction whose purpose was to blow up the price of NFTs, and Sotheby is supposed to be culpable because they participated in the sham and lent it legitimacy with their reputation.
That seems like a pretty legit complaint.
I mean, I have no sympathy for the people who got fucked buying NFTs but I have even less sympathy for the people who did the fucking, so absolutely let this lawsuit happen and let them burn.