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Wash Trading Accounted for Half of NFT Volume in 2022

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NFT Trading

Wash Trading Accounted For Over Half Of NFT Volume in 2022: Report

Token Incentives From LooksRare and X2Y2 Drove Surge In Activity

By Owen Fernau  


January of 2022 could be called the glory days of NFT trading. Trading volumes spiked to roughly $20B on the month, an all-time high and level that many participants in the space undoubtedly wish to return to. 

However, new findings by hildobby, a pseudonymous researcher known for their proficiency with on-chain analytics, tell a different story about that time — roughly 80% of trades in January 2022 were wash trades.

Read the full story in The Defiant

FTX Case

SBF’s Inner Circle Is Cooperating with Prosecutors

Gary Wang and Caroline Ellison Plead Guilty to Fraud

By Aleksandar Gilbert

CarolineGaryPleadGuilty 1

Two of the closest confidants of former FTX CEO Sam Bankman-Fried are cooperating with federal prosecutors and have pleaded guilty to criminal charges, Damian Williams, the U.S. attorney in Manhattan, said Tuesday night.

Read the full story in The Defiant

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