FTX Binance Fallout: Bitdao Community Asks Alameda Research to Respond to Tok...
After the Bitdao token’s quickfire plunge on Nov. 7, members of the Bitdao community have asked Alameda Research to address rumors the principal trading platform has dumped Bitdao’s BIT tokens. The dump, if confirmed, would be a breach of a swap agreement between the two entities which prohibits the offloading of each other’s tokens before Nov. 2, 2024. Alameda Research Has 24 Hours to Address Dump Allegations Following the BIT token’s sudden plunge — from nearly $0.38 to $0.31 between 11:00 and 11:05 p.m. EST on Nov. 7 — the Bitdao community has asked the Alameda....
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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....
The BitDAO community is one of the most recognized decentralized autonomous organizations – known as DAOs. BitDAO carries out its operations by allocating funds to ensure the constant development of the decentralized finance (DeFi) sector. BitDAO achieves this objective through unwavering support to the DeFi projects and partners. They’re also committed to providing funds to […]
Cryptocurrencies exposed to Sam Bankman-Fried and his companies, Alameda Research and FTX, have dropped by an average of 40% this week. Solana (SOL) is on the track to log its worst daily performance on record.On Nov. 9, SOL’s price dropped more than 40% to around $16 primarily due to its association with Sam Bankman-Fried, the founder of crypto-focused hedge fund Alameda Research and cryptocurrency exchange FTX.SOL/USD daily price chart. Source: TradingViewSam tokens get ‘fried’Fried was an early investor in the Solana blockchain project via Alameda Research. On Nov. 8, the entrepreneur’s....
The vast majority of the funding will come from BitDAO, one of the fastest growing decentralized treasuries in the world. As outlined in a prepared statement obtained by Cointelegraph, Game7 is an upcoming $500 million blockchain ecosystem acceleration decentralized autonomous organization, or DAO, with the goal of onboarding gamers worldwide to the blockchain ecosystem. Entities backing the proposal include BitDAO, Forte, Alameda Research, Mirana Ventures, Warner Music Group, Aleo, Avalanche, Interchain Foundation, Offchain Labs, OP Games, Polygon Studios, and Solana Ventures. Meanwhile,....
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.....