{"id":34656,"date":"2022-11-10T01:42:36","date_gmt":"2022-11-10T01:42:36","guid":{"rendered":"http:\/\/egrowonline.com\/?p=34656"},"modified":"2022-11-10T01:42:36","modified_gmt":"2022-11-10T01:42:36","slug":"ftx-provided-us4-1-billion-bailout-to-alameda-research-data","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=34656","title":{"rendered":"FTX provided US$4.1 billion bailout to Alameda Research: data"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>FTX exchange sent Alameda Research 173 million FTT tokens on Sept. 28, worth US$4.1 billion at the time, according to Etherscan data.<\/p>\n<p><strong><em>See related article:<\/em><\/strong> <a target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/binance-ftx-liquidity-crunch-acquire\/\" rel=\"noreferrer noopener\">Binance agrees to acquire FTX following liquidity crunch<\/a><\/p>\n<h2>Fast facts<\/h2>\n<ul>\n<li>The funds came from the <a target=\"_blank\" href=\"https:\/\/etherscan.io\/address\/0xd769010d3813bafaf4addbfe258eafd07828bb83\" rel=\"noreferrer noopener nofollow\">FTT ICO contract<\/a>, which automatically released the 173 million tokens from FTT\u2019s initial coin offering.<\/li>\n<\/ul>\n<ul>\n<li>The 173 million FTT tokens were sent to Alameda\u2019s crypto address on Sept. 28, <a target=\"_blank\" href=\"https:\/\/etherscan.io\/tx\/0x975d6223257504c418e891d250093e20757441cc592fed5d1fee9c1380860786\/advanced\" rel=\"noreferrer noopener nofollow\">Etherscan data<\/a> showed. An hour after the transaction, <a target=\"_blank\" href=\"https:\/\/etherscan.io\/tx\/0x8c7cf8d166c8bef112bf0f101ddc594c4d83646caff63516c2bfc5c1dd7a6149\" rel=\"noreferrer noopener nofollow\">Alameda sent<\/a> the 173 million tokens to the FTX Deployer address, which is the creator of the ERC-20 FTT tokens.<\/li>\n<\/ul>\n<ul>\n<li>On the day of the transactions, FTX CEO <a target=\"_blank\" href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1575112446460588035\" rel=\"noreferrer noopener nofollow\">Sam Bankman-Fried wrote<\/a> that the company was \u201crotating a few FTX wallets,\u201d which they do periodically, and that it \u201cwon\u2019t have any effect.\u201d<\/li>\n<\/ul>\n<ul>\n<li>Lucas Nuzzi, head of R&amp;D at crypto intelligence firm CoinMetrics, <a target=\"_blank\" href=\"https:\/\/twitter.com\/LucasNuzzi\/status\/1590122615192301569\" rel=\"nofollow noopener\">wrote<\/a> that Alameda survived the crypto crash by securing the 173 million FTT tokens as collateral, which came back to haunt FTX. \u201cThe Alameda bailout likely put a dent on FTXs balance sheet to the point where it was no longer solvent,\u201d he wrote.<\/li>\n<\/ul>\n<ul>\n<li>Nuzzi added that the bailout \u201cwould have been fine if the price of FTT didn\u2019t collapse and a bank run ensued.\u201d<\/li>\n<\/ul>\n<ul>\n<li>FTT lost 71% of its value in the past 24 hours to trade at US$4.77 at 8.45 p.m. in Hong Kong, according to <a target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/coins\/ftx-token\" rel=\"noreferrer noopener nofollow\">CoinGecko<\/a> data.<\/li>\n<\/ul>\n<p><strong><em>See related article:<\/em><\/strong> <a target=\"_blank\" href=\"https:\/\/forkast.news\/binances-changpeng-zhao-emerges-as-big-winner-on-all-fronts-of-ftx-acquisition\/\" rel=\"noreferrer noopener\">Binance\u2019s Changpeng Zhao emerges as big winner \u2018on all fronts\u2019 of FTX acquisition<\/a><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMiSGh0dHBzOi8vZm9ya2FzdC5uZXdzL2hlYWRsaW5lcy9mdHgtNC0xLWJpbGxpb24tYmFpbG91dC1hbGFtZWRhLXJlc2VhcmNoL9IBAA?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FTX exchange sent Alameda Research 173 million FTT tokens on Sept. 28, worth US$4.1 billion at the time, according to Etherscan data. See related article: Binance agrees to acquire FTX following liquidity crunch Fast facts The funds came from the FTT ICO contract, which automatically released the 173 million tokens from FTT\u2019s initial coin offering. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":34657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[39],"tags":[989,4596,1065,21,2258,206,12243],"class_list":["post-34656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ico","tag-alameda","tag-bailout","tag-billion","tag-data","tag-ftx","tag-research","tag-us41"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/11\/Sam-Bankman-Fried-CEO-of-FTX.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/34656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34656"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/34656\/revisions"}],"predecessor-version":[{"id":34658,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/34656\/revisions\/34658"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/34657"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34656"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}