Alameda Withdrawn Over $1.5 Billion From FTX Before The Balance Sheet Was Revealed

According to data analysis, Alameda Research withdrew over $1.5 billion from FTX before the balance sheet was exposed by Coindesk.

According to 0xScope’s analysis, from October 20 to November 2 (when CoinDesk revealed Alameda’s balance sheet), Alameda withdrew more than $1.5 billion from FTX.

At the top was Genesis which withdrew about $300 million, but it deposited another $40 million per day before FTX stopped depositing, Jump also withdrew $300 million from FTX and hasn’t deposited since.

As was updated in an earlier Coincu News article, the overturning of Alameda’s balance sheet was the beginning of a series of events that resulted in the current collapse of FTX. FTX and its affiliates filed for bankruptcy protection on November 11.

At his heyday, Sam Bankman-Fried owned a fortune of $26 billion. At the start of this week, his fortune was still at $16 billion, but by November 9, it had dropped to $1 billion, according to Bloomberg.

By the end of November 10, all assets had evaporated. The Bloomberg Billionaires Index puts the value of the US subsidiary of FTX at just $1, down from $8 billion after a January 2022 funding round. Mr. Bankman-Fried owns nearly 70% of FTX branches in the US.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Foxy

Coincu News