The dump is reported by Twitter users with a link to the transactions carried out

​Alameda starts a token sale. Which altcoins could collapse in value

07.11.2022 - 12:45

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3 min

What’s new? Alameda Research, owned by the head of the FTX crypto exchange Sam Bankman-Fried, has started selling off tokens from its reserves, including SUSHI and LDO coins. This was reported by analytics platform Lookonchain, and in the comments to the tweet, the representative of The Block Research Larry Cermak added information about the dump of a number of other assets.

What other data is known? Lookonchain provided links to transactions conducted with 478 999 SUSHI and 636 538 LDO that were transferred to the FTX exchange. The company noted that Alameda’s 56 addresses host 18 different cryptocurrencies, each with more than $1 million in holdings. Specifically, Alameda owns $30,39 million worth of USDC stablecoins, as well as $22 million worth of FTX’s (FTT) native tokens.

Larry Cermak posted a screenshot of the transactions that Alameda conducted with CHZ, LOOM, SHIB, LINK, and DYDX tokens. He noted that the company is transferring assets from FTX to the Binance crypto exchange.

What is known about the situation? On November 6, crypto exchange Binance began a complete liquidation of its positions in FTT. Binance already transferred 23 million coins worth $584,8 million. The head of the exchange Changpeng Zhao noted that the liquidation will be carried out over several months to minimize the impact on the market. The decision itself is likely due to Alameda’s disclosed reports, which show that FTT tokens represent the largest share of the company’s accounts.

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