Alameda Research Reportedly Amassed Tokens Ahead of FTX Listings - Alameda Research amassed tokens before they were listed on the FTX exchange, Argus reported.

    London-based company Argus yesterday revealed the shocking truth that Alameda Research seems to have colluded with FTX to conduct non-transparent transactions. Speaking to The Block, CEO Argus Owen Rapaport said: “We can’t really conclude to what extent they sell all their tokens or not – but given the timing of their market entrance shortly before listings, it seems not coincidental.”

    According to Argus, Alameda Research amassed tokens before their listings on FTX were made public, then sold to earn profits. As of March 2022, Alameda held about $60 million in 18 different tokens, all of which are already on FTX.

    The disclosure was first cited by the Wall Street Journal on November 14. Up to now, Alameda has not given any response.

    Alameda Research is an investment fund founded and operated by Sam Bankman-Fried. Although it claims to operate separately from the FTX exchange, according to the balance sheet leaked by Coindesk, Alameda holds a lot of FTT, the native token of FTX.

    Since then, users began to lose confidence and rush to withdraw their funds from the platform amid the crash of FTX due to the liquidity crisis. FTX has finally declared bankruptcy. “Inside trading” has been considered a red flag problem in the crypto industry for many years. Former product managers of OpenSea and Coinbase were also entangled in similar allegations.

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