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According to a report from blockchain analytics firm Argus, Sam Bankman-Fried’s trading company, Alameda Research, secured tokens ahead of FTX.com listings. The report claims that Alameda acquired approximately $60 million worth of tokens before the digital assets were listed on FTX.
Blockchain Analytics firm says Alameda had an Insider’s Edge a month before FTX listings
Wall Street Journal (WSJ) contributor Caitlin Ostroff detailed on November 14, 2022, that analysis by blockchain analytics firm Argus indicates that the now-bankrupt Alameda Research had amassed a large stash of tokens ahead of specific FTX lists. Ostroff’s report notes that between March 2021 and March 2022, Alameda acquired $60 million worth of these types of crypto tokens from 18 different FTX listings that followed.
“What we see is that they have almost always, in the month leading up to it, bought a position that they didn’t have before. It’s absolutely clear that there’s something in the market that tells them they should buy things they didn’t have before,” Omar Amjad, co-founder of Argus, told the WSJ..
The report further notes that former FTX CEO Sam Bankman-Fried (SBF) emailed the WSJ in February and said Alameda had access to the same type of information as most decision-makers. of the crypto market held. Ostroff further explained that SBF told the news publication that “[Alameda] traders had no special access to customer information, market data, or trading.
The news follows FTX’s filing for bankruptcy on November 11, 2022, and the filing revealing that FTX International, FTX US, Alameda Research, and 131 other entities have been included in the Chapter 11 bankruptcy filing. Sources told Reuters that SBF had quietly transferred about $10 billion in funds to Alameda. Two people familiar with the matter further explained that at least $1 billion and possibly as much as $2 billion in client funds had gone missing.
While texting Reuters directly, SBF told reporters it “disagrees with the characterization” of the alleged $10 billion transfer of funds to Alameda. “We didn’t transfer secretly,” SBF insisted in its text message. “We had confusing internal labeling and we misread it,” the former FTX CEO added. Less than 24 hours after FTX filed for bankruptcy on November 11, exchange wallets were hacked and $477 million worth of crypto assets were allegedly stolen.
Want to read all the FTX reports that Bitcoin.com News has covered so far? Check out the list below.
- Crypto Exchange Binance Dumps All FTX Tokens On Its Books – CEO Citing ‘Recent Revelations’
- FTX Binance Fallout: Bitdao Community Asks Alameda Research to Respond to Token Dump Allegations
- CZ Says Binance Intends to “Fully Acquire FTX”, Sam Bankman-Fried Confirms Transaction
- Report: FTX CEO Tells Staff Crypto Exchange Has “Effectively Paused” Withdrawals
- Binance CEO Explains FTX Situation – Says “We Didn’t Plan This”
- Binance Pulls Out of FTX Deal Citing ‘Due Diligence’, Reports of ‘Mismanaged Client Funds’
- Amid FTX confusion, whistleblower Edward Snowden says ‘custody swaps were a mistake’
- Galaxy Digital reveals update on FTX ties, partnership has ‘approximately $76.8 million exposure’
- Report: Singapore State Investor Temasek Commits to Struggling Crypto Exchange FTX
- From a $32 Billion Valuation to Financial Trouble: An In-Depth Look at the Rise and Fall of FTX
- Volatile USDT Price Sparks Alameda Reserve Speculation, Tether Freezes 46 Million Tokens
- FTX CEO Updates Crypto Community Sunsets Alameda Trading Addresses Specific “Training Partner”
- Reports Claim Embattled Crypto Exchange FTX Seeks Over $9 Billion From Investors
- Major Venture Capital Firm Sequoia Capital Marks FTX Investment at $0 – Says ‘Cash Crisis Has Created Solvency Risk for FTX’
- SEC and DOJ Investigate FTX – Regulators Suspect Crypto Exchange of Mishandling Client Funds
- TRX USD Exchange Rate Jumps 270% on FTX After Stock Brokers Deal With Tron
- Block suspends customer withdrawals, cites ‘lack of clarity on FTX status as a cause
- Bahamian Regulator Freezes FTX Assets – Supreme Court Appoints Provisional Liquidator
- California Regulator Reveals Investigation into FTX Failure, Says “Crypto-Assets Are High-Risk Investments”
- Struggling Crypto Exchange FTX Files For Chapter 11 Bankruptcy Protection, CEO Steps Down
- Philanthropic foundation FTX winds down operations amid fallout from failed exchange
- Onchain Data Shows FTX US Paused ETH Withdrawals for 2 Hours, Users Complain About Withdrawal Errors
- SEC Chairman Gensler Discusses Crypto Regulation After FTX Collapse – Says Field ‘Significantly Non-Compliant’
- White House and US Senators Call for Proper Crypto Oversight
- Japanese regulator slaps FTX Japan with a business suspension order
- FTX reportedly hacked as Telegram group admin comments on possible ‘malware’ in apps, irregular fund movements recorded on channel
- Report Says Alameda Research ‘Hasn’t Traded Crypto’, Speculators Believe SBF’s Political Connections Let FTX Fly Under the Radar
- Flight radar report shows FTX co-founder’s private jet flew to Argentina, SBF says it’s still in the Bahamas
- Hedge fund Galois Capital discloses ‘about half of company’s capital ‘locked to FTX’
- FTX CEO confirms reports of ‘unauthorized access to certain assets’, team ‘coordinates with law enforcement
- Former U.S. Treasury Secretary Larry Summers Compares FTX Collapse to Enron Fraud
- From Mercedes F1 to Miami Heat, sports teams suspend FTX sponsorships
- FTX Collapse: Africa-Focused Payments Company AZA Finance Slams “False Inclusion” in FTX Bankruptcy Filing
- FTX Contract Deployer Unlocks 192 Million FTT, Questionable Exchange Token Tokenomics Highlight Red Flags
- Royal Bahamas Police Force Reveals FTX Under Investigation For ‘Criminal Misconduct’
- Kraken CEO Discusses Impact of FTX Failure – Says Damage to Crypto Industry is Huge and Will Take Years to Repair
- Conflicting Reports Emerge About SEC Helping Bankrupt Crypto Exchange FTX With Legal Loopholes
- Effective altruism: Former FTX CEO’s $40m penthouse is up for sale, report says the company spent $74m on real estate
- US Law Enforcement Orders Paxos to Freeze Over 11,000 PAXG Tokenized Gold
- Ikigai Exec Says Crypto Asset Management Firm’s ‘Vast Majority’ of Funds Locked Up on FTX
- Kevin O’Leary: FTX’s Collapse Is A Turning Point For The Industry – ‘Crypto Bottom Is In’
