FTX trade despatched Alameda Analysis 173 million FTT tokens on Sept. 28, value US$4.1 billion on the time, based on Etherscan knowledge.
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- The funds got here from the FTT ICO contract, which mechanically launched the 173 million tokens from FTT’s preliminary coin providing.
- The 173 million FTT tokens had been despatched to Alameda’s crypto handle on Sept. 28, Etherscan data confirmed. An hour after the transaction, Alameda sent the 173 million tokens to the FTX Deployer handle, which is the creator of the ERC-20 FTT tokens.
- On the day of the transactions, FTX CEO Sam Bankman-Fried wrote that the corporate was “rotating a number of FTX wallets,” which they do periodically, and that it “received’t have any impact.”
- Lucas Nuzzi, head of R&D at crypto intelligence agency CoinMetrics, wrote that Alameda survived the crypto crash by securing the 173 million FTT tokens as collateral, which got here again to hang-out FTX. “The Alameda bailout probably put a dent on FTXs stability sheet to the purpose the place it was not solvent,” he wrote.
- Nuzzi added that the bailout “would have been advantageous if the value of FTT didn’t collapse and a financial institution run ensued.”
- FTT misplaced 71% of its worth up to now 24 hours to commerce at US$4.77 at 8.45 p.m. in Hong Kong, based on CoinGecko knowledge.
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