Weekend Wrap: Yuga gets PROOF, bank’s alleged secret lending to SBF and more
Yuga Labs has acquired a river NFT conglomerate while FTX investors allege a Bahamian bank helped the exchange carry out fraud.
Nonfungible token (NFT) giant Yuga Labs' recent acquisition of NFT conglomerate PROOF has gone off without a hitch — though trading activity in the lead-up to the announcement has raised some eyebrows.
On Feb. 16, Yuga announced that it bought PROOF and its Moonbirds, Oddities, Mythics, and Grails NFT collections for an undisclosed amount. PROOF’s assets, intellectual property and team will come under Yuga, and PROOF founder and CEO Kevin Rose will join Yuga as an adviser.
However, some observers have since noticed a spike in Moonbirds’ daily sales volume two days before the announcement, jumping to nearly $1.3 million — quadruple the volume from the day prior. This then continued to climb to $1.5 million on Feb. 15, bringing up the collections floor price along with it, per DappRadar.
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