NFT Market Update 14th December 2022

Sam Bankman-Fried has been denied bail despite his pleas to be put on house arrest. He was remanded to the Bahamas Department of Corrections’ notorious Fox Hill Prison until his next court appearance on February 8.

Binance’s CEO has warned crypto winter isn’t over and for staff to expect turbulent times ahead as the giant crypto exchange sees more than $900m of outflows amid concerns about its financial health. CZ wrote to staff, “while we expect the next several months to be bumpy, we will get past this challenging period – and we’ll be stronger for having been through it.”

Solana News

Poverty Boys, a popular Solana NFT collection, has seen its floor price collapse 90% after the founders cut off communication by deleting Twitter and Discord. Prior to this, the founders provided returns based on Twitch live stream trading, covering crypto and equity markets. Notable Solana figures were holders of this project, including Sol Big Brain.

SOLgods, an OG collection trying to make amends for poor prior management, teased an upcoming major event for holders. A highly complex puzzle will start in seven days, with the winner taking home 50% of overall collection sales.