Alameda’s biggest profit comes from DeFi liquidity mining
User X Wazz posted that Alameda's biggest source of profit comes from DeFi liquidity mining. Wazz stated that in an interview in 2021, SBF mentioned redirecting 80% of Alameda's resources to liquidity mining because it is an easy way to make money. Alameda invested $5 billion in DeFi liquidity mining without doing proper due diligence, hastily authorizing those pool2 contracts. Alameda earns $2-4 million in each Binance Launchpad new coin offering and receives three million DYDX rewards every day.
Addresses Marked FTX and Alameda Transferred 4.8 Million USDT to Kraken
PeckShield monitoring shows that a total of approximately 4.8 million USDT was transferred from addresses marked as FTX (THypwN...KggM) and Alameda (TVHf87...qtvN) on the TRON chain to the Kraken exchange address (TQR4NW...2sjW).
Coinbase Director: Alameda Once Minted 39.55 Billion USDT, Accounting for 47% of the Current Circulating Supply
October 10th, Coinbase executive Conor Grogan stated on social media that on-chain data shows Alameda has minted 39.55 billion USDT, which accounts for 47% of the current circulating supply of USDT.
A previous report by Protoss estimated this number to be around 36.7 billion US dollars, but Conor Grogan updated the data with the discovery of additional wallets.
Coinbase executive: On-chain data shows Alameda responsible for minting $39.55 billion USDT
Coinbase executive Conor revealed on social media that blockchain data shows Alameda is responsible for the issuance of 39.55 billion USDT, which accounts for 47% of Tether's current circulating supply. It is reported that a previous report by Protoss estimated this number to be around 36.7 billion US dollars.
As Early as 2019, Alameda’s Function of Stealing Customer Funds Had Been Implanted Into FTX’s Computer System
FTX co-founder Gary Wang revealed more details about the corrupt relationship between Alameda Research and its exchange during the trial of Sam Bankman-Fried on Friday.
Wang testified that the functionality required for Alameda to steal client funds had been implanted in FTX's computer system as early as 2019.
In addition, compared to other clients, Alameda received three privileges at FTX. One of them allowed Alameda to trade with more funds than it actually had in its account.
Defunct crypto exchange FTX and sister firm Alameda seek to retrieve $71 million from FTX Foundation and life science entities
FTX and Alameda have filed court documents seeking to recover over $71 million from the FTX Foundation and other life science entities. The bankrupt firm is attempting to retrieve funds for its customers, following previous attempts to recover $700 million from FTX founder Sam Bankman-Fried and $323 million from the leadership team of the exchange's European arm. Lawyers argue that the FTX Foundation and Latona made transfers to life science companies under the guise of effective altruism, but in reality, Bankman-Fried pursued these transactions to generate goodwill and political influence for himself. Additionally, the Metropolitan Museum of Art has agreed to return $550,000 in donations received from FTX.
BlockFi's Recovery Hinges on Claims Against FTX and Alameda, Court Filings Show
According to court filings, BlockFi's ability to recover funds for its clients and creditors affected by the bankruptcy of crypto lender BlockFi will heavily rely on its claims against its commercial counterparties, FTX and Alameda. The success or failure of these legal actions could result in a difference of over $1 billion for clients eagerly awaiting the return of their money. BlockFi's wind-down plan outlined projected recoveries, including approximately $1.06 billion from the liquidation of BlockFi Inc. Interest Account Claims, $216 million from BlockFi Lending LLC Private Client Account Claims, and $371 million from BlockFi International Ltd. Private Client and Interest Account Claims. However, the actual recoveries received by clients might deviate significantly from these estimated figures.
OKX Sends $60 Million in Digital Assets to Alameda Research Wallets
Crypto exchange OKX has transferred around $60 million worth of digital assets to wallets linked to failed hedge fund Alameda Research, according to data from crypto analytics platform Arkham Intelligence. The funds were spread out among 16 separate transactions and included approximately 337.9 million Mask Network tokens and $57.77 million worth of Tether stablecoin. Alameda Research currently holds over $284 million worth of assets in its crypto wallets, with its largest holdings being USDT, BitDAO, Ether, and Stargate Finance. The transfer may have been part of a recovery effort to pay back customers of Alameda's sister company, FTX.
Alameda to Be Repaid $53M Deltec Loan, Delaware Bankruptcy Court Says
FTX’s trading arm Alameda Research should be repaid nearly $53 million for a loan originally made in 2021 to Deltec International Group, a Delaware judge ruled on Wednesday.
Report Reveals Major Security Concerns and Chaos in Business Practices at Bankrupt Crypto Exchange FTX and Affiliates
A new report on the bankruptcy of crypto exchange FTX and affiliated companies has revealed major security concerns and chaos in business practices. The report alleges that hot wallets holding tens of millions of dollars-worth of assets were not securely stored, keys to wallets were not well-protected, and private keys for different wallets were stored without appropriate backup procedures.
