Alameda-Backed Tokens Suffer As FTT Fights To Stay Alive
In the wake of the FTX decline, the official token of the crypto exchange, FTT Token, has suffered a massive blow in the market. In the three days since Binance’s announced its intention to sell off its FTT, the token has recorded double-digit losses. However, the losses have not just been localized to one token, the general crypto market has suffered for it, but the worst of it has been reserved for the tokens Alameda Research has invested in. FTT Token Slumps In what has been a shocking development for the entire crypto space at large, FTT Token has crashed more than 80% in a matter of....
Related News
Solana (SOL) has been one of the tokens hit by the FTX decline in the last few days. Given FTX’s exposure to the token and the fact that they hold a sizable position, it has suffered a massive decline in tandem with the FTT token. The token has already lost more than 50% of its value since the weekend. However, the bloodbath may not be over for SOL holders as some developments come to light. More Solana Being Unlocked Even with the market already being oversaturated with sell-offs, there is more SOL scheduled to be put into circulation. Previously the Solana Epoch 370 was scheduled to....
According to a report stemming from the blockchain analytics firm Argus, Sam Bankman-Fried’s trading firm Alameda Research obtained tokens ahead of FTX.com listings. The report claims that Alameda acquired roughly $60 million worth of tokens before the digital assets were scheduled to be listed on FTX. Blockchain Analytics Firm Says Alameda Had an Insider’s Edge a Month Prior to FTX Listings Wall Street Journal (WSJ) contributor Caitlin Ostroff detailed on Nov. 14, 2022, that analysis from the blockchain analytics firm Argus indicates the now-bankrupt Alameda Research had....
Bybit co-founder Ben Zhou stated that while no wrong-doing is confirmed, the BitDAO community would like to see proof of fund from Alameda. The recent concerns related to the volatility of FTX Token (FTT) seeped into FTX CEO Sam Bankman-Fried’s other business operation, Alameda Research, as the BitDAO community requested information about Alameda’s BitDao (BIT) holding commitment.On Nov. 2, 2021, BitDAO swapped 100 million BIT tokens with Alameda in exchange for 3,362,315 FTT tokens with a public commitment to hold each other’s tokens for three years, so until Nov. 2, 2024. Given the....
YFI price is still in a downtrend and many investors believe all attempts at recovery are being suppressed by Alameda Research. Yearn Finance (YFI) price has been in a serious rut during the past 2 weeks and many in the crypto community blame the sharp correction on Sam Bankman-Fried (SBF), the CEO of Alameda Research and FTX. In the past month, DeFi giant Yearn.finance’s native token YFI dropped 62.7% from $43,970 to $16,360.As Cointelegraph has reported, the majority of DeFi tokens corrected 40%-60% in September and this sell off took place as Bitcoin and Ether (ETH) prices also dropped.....
The protocol announced an agreement to buy out 100% of FTX Ventures’s and Alameda Research’s equity position. Interoperability protocol LayerZero Labs announced on Nov.10 an agreement to buy out 100% of FTX Ventures’ and Alameda Research’s equity position, including token warrants and all agreements between the parties. In March, the protocol raised $135 million in a funding round co-led by FTX Ventures, bringing the startup’s valuation to $1 billion. Other investors in the round included Andreessen Horowitz, Sequoia, Coinbase Ventures and PayPal Ventures.In a statement released to....