Alameda sells over $200M in stablecoins to exchanges; FTT token comprises majority of its $14B in assets

Arkham’s quality dashboard revealed that FTX’s sister institution Alameda Research sold $284 cardinal worthy of stablecoins to crypto exchanges betwixt Oct. 31 and Nov. 2, according to information analyzed by CryptoSlate.

The marketplace shaper sold $168 cardinal worthy of USDT to FTX. It sold $66 cardinal USDP to Binance and $50 cardinal USDC to Circle.

The monolithic outflows are coming earlier the Federal Open Market Committee (FOMC) meeting. The Federal Reserve is expected to rise the involvement rates by 0.75% for the 4th time.

CryptoSlate research stated that the precocious rates mightiness beryllium indispensable to curb ostentation that could summation adjacent further arsenic households pat into their currency savings.

Alameda Research’s Crypto Holdings

FTX’s (FTT) token comprises the bulk of the crypto holdings of Alameda Research, Coindesk reported Nov. 2.

According to the report, Alameda holds astir $5.82 cardinal worthy of FTT tokens -the trading steadfast holds $3.66 cardinal worthy of “unlocked FTT” and $2.16 cardinal worthy of “FTT collateral.”

The steadfast besides has $292 cardinal of “locked FTT” among its $8 cardinal liabilities.

The study stated that Alameda besides held a important magnitude of Solana (SOL) tokens.  The crypto trading steadfast holds “$292 cardinal of ‘unlocked SOL,’ $863 cardinal of ‘locked SOL’ and $41 cardinal of ‘SOL collateral.'”

Meanwhile, the Alameda connection reportedly stated that the values of locked tokens should beryllium “conservatively treated astatine 50% of just worth marked to FTX/USD bid book.” Going by this, the worth of the tokens mightiness beryllium overmuch lower.

The station Alameda sells implicit $200M successful stablecoins to exchanges; FTT token comprises bulk of its $14B successful assets appeared archetypal connected CryptoSlate.