According to a report from the New York Post, cryptocurrency enthusiasts appear to be offloading their luxury cars in response to the furor caused by prominent crypto exchange FTX's recent bankruptcy filing.
If you're not in the know, here's the abridged version. FTX was founded by Sam Bankman-Fried, commonly known as SBF. FTX is a Bahamas-based cryptocurrency exchange that seemed to be making the most of the metaverse craze, apparently doing so well that it could afford to sponsor the Mercedes-AMG F1 team, and even when filing for bankruptcy, SBF said the company was worth around $5.5 billion. As it turns out, the company's crypto holdings totaled less than $660,000, according to Markets Insider.
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