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

According to data analyzed by CryptoSlate, Arkham’s intelligence dashboard revealed that FTX sister company Alameda Research traded $284 million worth of stablecoins between October 31 and November 2. announced that it had been sold.

The market maker has sold USDT worth $168 million to FTX. Sold USDC for $66M to Binance and $50M to Circle.

A massive outflow is coming ahead of the Federal Open Market Committee (FOMC) meeting. The Federal Reserve plans his 0.75% interest rate hike for the fourth time.

A study by CryptoSlate says higher interest rates may be needed to curb inflation, which could rise further as households tap into cash savings.

Alameda Research Crypto Holdings

FTX (FTT) tokens make up the majority of Alameda Research and Coindesk’s crypto holdings. report November 2.

According to the report, Alameda holds about $5.82 billion worth of FTT tokens, while the trading firm has $3.66 billion worth of “unlocked FTT” and $2.16 billion worth of “FTT collateral.” ” is held.

The company also has a $292 million “locked FTT” among $8 billion in debt.

According to reports, Alameda also held a large amount of Solana (SOL) tokens. The crypto trading firm holds “$292 million of ‘unlocked SOL’, $863 million of ‘locked SOL’ and $41 million of ‘SOL collateral’.

Meanwhile, Alameda’s statement was quoted as saying that the value of the locked tokens “should be treated conservatively at 50% of the fair value marked on the FTX/USD orderbook.” This could make the token worth much less.

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