Try Quests to earn SOLAiling Alameda
Introduction
Alameda Research
> A crypto trading firm launched in 2017 by Sam Bankman-Fried. Alameda Research made a fortune in crypto arbitrage by trading Bitcoin between the U.S. and Japan. In 2019, some of the profits were used to launch the FTX crypto exchange.
FTX
> A cryptocurrency exchange headquartered in The Bahamas that caters to countries outside the U.S. Within the U.S., customers use FTX.US. Founded in 2019 by Sam Bankman-Fried and Gary Wang, FTX gained prominence when it acquired the Miami Heat's basketball stadium in 2021 and renamed it FTX Arena. In the same year, FTX acquired naming rights to the TSM e-sports organization, which was renamed Team SoloMid FTX.
FTX token
> FTT is the native currency of FTX, a derivatives and spot cryptocurrency exchange run by Sam Bankman-Fried. The token, which trades under the ticker FTT, cuts down on trading fees and provides benefits for those that use the FTX platform.
Binance
> The Binance Exchange is a leading cryptocurrency exchange founded in 2017 in Hong Kong. It features a strong focus on altcoin trading. Binance offers crypto-to-crypto trading in more than 600 cryptocurrencies and virtual tokens, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own token Binance Coin (BNB).
Method
In the current dashboard I’m going to look at the Stablecoin flows to and from FTX/Alameda wallets on Ethereum and Solana in the since last October. I am trying to see drastic changes in the stablecoin holding of these wallets. The data for this dashboard will come from the ethereum.core.ez_token_transfers, ethereum.core.dim_labels, solana.core.fact_transfers and solana.core.dim_labels of Flipsidecrypto’s database and filtered those by WHERE label iLIKE any ('%alameda%', 'ftx').
In the first section transferring transactions of FTT token as FTX native token was assessed and at the following the inflow and outflow of USDC, USDT, DAI & TUSD as major stablecoins on two blockchains (Ethereum & Solana) from/to FTX/Alameda have investigated.
✍🏻 Conclusion
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Total transferred FTT token volume is belong to FTX whit more than $4.63B (188.5M FTT) that followed by binance by $3.23B (129.6 FTT) since last Oct.
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The amount of transferred FTT token volume peaked at 111.2M in Nov 5th, by Binance.
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$22.44B flowed into FTX against to $22.7B cash out on Ethereum that means $240M was the net outflow from FTX on Ethereum.
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In return, on Solana blockchain, the outflow volume was too higher than Ethereum, so that $2.65B flowed into against to $3.2B outflowed in total, that shows about $550M outflow from FTX.
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Daily transferred volume to Binance peaked at $260M in Nov 1th, and nearly $4.88B transferred to Binance in total.
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More than $37.3M & $9.8M transferred to gate.io and coinbase, respectively, in total.
Overall, there has been a massive decline in stablecoins in FTX wallets on both Ehteum and Solana since mid October.
And finally, I’m glad to share this research with those who care about this issue via Twitter link, and will be pleased by your comments.
About:
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Author: HaM☰d
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Discord: 0xHaM☰d#8391
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Twitter: @arjmandi_hamed
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Email: h_arjmandi2012@yahoo.com
Add Text Here
Analyze what Alameda is experiencing. Rumors over the weekend began swirling that alameda research is on the brink of insolvency.
Observe net in and outflows of USD tokens from known Alameda or FTX accounts throughout different chains. Are they going somewhere specifically? Are there any signs of potential insolvency? \n
Hey there 👋!
Firstly, I appreciate you sticking with it until the conclusion.
I'm Hamed, a civil engineering Ph.D.
student interested in data analysis.
I've made many similar dashboards and visualizations since I started at Flipside in January.
Please take a look at my various contact details and let me know what you think.
:telescope: Findings:
The growth of transferring FTT volume are shown in the above charts as cumulative transferred volume and the growth of transferred volume by binance is obviously clear.
In the chart above right daily volume of transferred FTT since last Oct are shown and in the chart above left cumulative transferred volume are visualized in an animative graph.
The amount of transferred FTT token volume peaked at 111.2M in Nov 5th, by Binance.
⏳ The following section deals to investigating of inflow/outflow of USD (Stablecoins) to FTX/Alameda on Ethereum & Solana Blockchains.
The first two charts below show the inflow and out flow of aforementioned stablecoins into FTX/Alameda on Ethereum and Solana chains.
As can be observed $22.44B flowed into FTX against to $22.7B cash out on Ethereum that means $240M was the net outflow from FTX on Ethereum.
In return, on Solana blockchain, the outflow volume was too higher than Ethereum, so that $2.65B flowed into against to $3.2B outflowed in total, that shows about $550M outflow from FTX.
SBF vs CZ War: What’s Happening with FTX and Binance?
Binance CEO Changpeng Zhao (CZ) and FTX CEO Sam Bankman-Fried (SBF), two of the most prominent men in crypto, have been sparring on Twitter. SBF and FTX FUDs and scandals could affect the crypto industry, making this war bigger than them.
The release of Alameda Research's balance sheet, FTX's sibling quantitative trading firm, started the CZ-SBF drama. Alameda's $14.6 billion assets include $3.66 billion in FTT, FTX's native token, and $2.16 billion in FTT collateral, according to a private document CoinDesk examined. Solana (SOL), Serum (SRM), and other crypto tokens linked to SBF account for $3.37 billion.
Alameda's net equity is mostly FTX's centrally managed cryptocurrency, which is illiquid. FTT's market valuation is $2.3 billion, while Alameda's numbers reveal an excess of roughly 200% of its circulating supply. Alameda's assets cannot be sold without harming the market.
CZ tweeted Binance's entire FTT pullout shortly after the breach. Selling it monthly on the open market will limit market impact. CZ attacked SBF, saying liquidating their FTT constitutes post-exit risk management. If a bank run occurred, FTX may repeat history and die.
Ellison then informed CZ that Alameda will acquire all of Binance's FTT holdings for $22. The crypto community thought the response was desperate and a major red flag. CZ declined the bid and said he won't assist "those that push against other industry participants behind their backs," referring to SBF's reported backing of the DCCPA draft bill last month, which might threaten DeFi.
If SBF's claimed political attitude is the match and Alameda's financial sheet is gasoline, CZ dumping its whole FTT holdings strikes the match.
According to Nansen data, FTX stablecoin outflows reached $451 million due to crypto community FUD. FTX withdrawals also take 4-8 hours and cost more, which upsets users. FTT token is down 39% from its weekly high [1].
:telescope: Findings:
As of news and rumors above, and reflected those in the charts above can be seen in recent days too much users transferred their FTT Tokens on Binance, so that, in Nov 6th, till Nove 8th, about 1.5K users transferred their tokens on binance. Also in these days about 2K transactions took place on binance, while in the other platforms was below 50 Users and 500 transactions except kucoin that was in the second place in user count and FTX the native FTT platform, with about 550 transactions.
In the following visuals can observed more than 98% of FTT tokens transferred to Cexs, so that after FTX with 65.5% of transferred volume binance has the most transferred volume with about 40% of total volume.
Total transferred FTT token volume is belong to FTX whit more than $4.63B (188.5M FTT) that followed by binance by $3.23B (129.6 FTT) since last Oct.
:telescope: Findings:
The following graphs present the inflow and outflow of each stablecoin from FTX on Ethereum and Solana.
As can be seen the most turnover volume are belong to USDC & USDT on both chains.
The volume peaked at over $10.5B and nearly $800M in Nov 7th, on Ethereum and Solana, respectively.
In return, in outflow direction the volume on Ethereum are similar to inflow directions, but in Solana the outflow volume is over $1B.