NFT Market Update - 16th August, 2022

An Ethereum whale wallet that participated in the genesis ICO and obtained about 150,000ETH in 2014 became active after three years of dormancy. Speculators claim the whale could be dumping before the Merge.

Kevin O’Leary says sacrificing Tornado Cash founder is worth it for institutional adoption and suggested the developer was a necessary sacrifice to create stability for institutional inflows.

Ryder Ripps is claiming the lawsuit over Bored Ape NFTs is being used to silence him.

On-chain sleuth @ZackXBT wrote a deep dive ‘Rug’ thread into Winter Bears after the project made $3.4m and the team disappeared for months. The team engaged in deceptive marketing including sending 5ETH to ArtChick so they could sweep the floor to create fake hype.