The 173 million FTT token transfer from September between Alameda Research and FTX fuels wild speculations.
Even as the crypto community process the events of the past 24 hours, the focus has now shifted toward other SBF-owned entities, especially Alameda Research, a leading principal trading firm. Alameda and FTX. Speculation mills are rife that Alameda reportedly faced a crisis itself during the crypto contagion in the second quarter and FTX bailed it out, which eventually came to bite it back.
Lucas Nuzzi, the head of the crypto analytic firm Coinmetric, took to Twitter to point out the FTT market cap increased 124.3% on September 28 when 173 million FTX Token worth over $4 billion became active on-chain. Nuzzi pointed out that on the same day, a total of $8.6 billion worth of FTT tokens were moved on-chain.Tracking the fund transfers of the day, Nuzzi found 173 million FTT tokens from a 2019 ICO-era contract and the recipient of the $4 billion mint was reportedly Alameda Research.
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