Crypto bros offloading G-Wagons, luxury cars amid FTX crash

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Crypto bros are running on empty — and appear to be offloading their fancy cars amid the fallout from the FTX implosion, which has rippled through the cryptocurrency market and caused the value of digital coins to plummet.

An uptick in like-new models of sought-after luxury cars have hit resale sites such as AutoTrader in recent weeks, but they’re not fetching the premium prices they once did. The Mercedes Benz G-Wagon — the unofficial “new money” badge of the crypto rich — was once valued around $300,000 in the resale market but is now closer to $200,000, car experts say. Other luxury vehicles such as Lamborghini Urus and McLaren Spiders have also taken a hit.

Some luxury car insiders believe the purge is linked to the FTX collapse, which caused as much as $2 billion in client money to evaporate.

“Exotic car market is getting decimated right now,” CarDealershipGuy, the anonymous CEO of a luxury car dealership who pens an eponymous newsletter, tweeted on Nov. 22, noting that a 2021 Mercedes G-Wagon with just 3,378 miles sold for $187,000 at auction. “That’s nearly an $80,000 (or 30%) drop in under 12 months,” he wrote.

More recently, on Nov. 25, a 2020 Mercedes G-Wagon — the G63 AMG model — with 3,992 miles sold for $179,000 at auction, down from around $240,000 last year, he told The Post.

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