Alameda Research used prior knowledge of tokens that were scheduled to be listed on FTX to buy them ahead of the public announcements and then sold them for a profit, according to an analysis from crypto compliance firm Argus.
Between the start of 2021 and March of this year, Alameda held $60 million worth of 18 different tokens that were eventually listed on FTX. The analysis was first mentioned in a report on Monday from The Wall Street Journal. The company did not immediately respond to a request for comment from Decrypt.
Alameda Research is a quantitative trading firm founded by Sam Bankman-Fried in 2017. He went on to found FTX, the now-bankrupt crypto exchange, in 2019 and then stepped away from day-to-day operations at Alameda in 2021. Bankman-Fried maintained that the two companies were separate entities, but the bank run that forced FTX’s hand on suspending withdrawals last week, and ultimately filing for bankruptcy, stemmed from the fact that a large portion of Alameda’s balance sheet was comprised of FTT, the FTX exchange token.
0:00 FTX News Live Sam
5:00 Sam Bankman Fried
10:00 Alameda Research Counter.
15:00 FTX exchange Update.
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*Nothing I state or express should be considered professional advice. This channel is intended for educational and entertainment purposes only. All content contained within is just my own opinion and experience. I do not advise that you buy sell trade or hodl any digital asset of any kind. You should always consult with your own finical advisor before making any investment decisions. I do not support any type of leverage trading, sports betting, or online gambling of any sort. It is extremely reckless and I strongly advise against it*
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