BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

Alameda’s Assets Being Dumped En Masse

by Abimbola Adu
Nov 9, 2022 - 12:00 am
in Blockchain
Alameda's Assets Being Dumped En Masse

DuRty Crypto, a crypto enthusiast and news writer, reported a massive dump on all Alameda Research assets on November 8, 2022, backing his claim with a market chart.

Here is some of @AlamedaResearch assets:

I'm predicting they are all getting dumped.

Exception: $BNB pic.twitter.com/D6Bffs60L8

— DuRtY Crypto (@DuRtY_Crypto) November 8, 2022

These assets are also feeling the heat from the recent events surrounding Alameda. As the market shows, about 41 of Alameda’s assets, except BNB, are being dumped massively. They include SOL, UNI, SUSHI, AAVE, ETH, and many more.

Alameda Research has been in a tight spot for a while now due to an impending lawsuit that may result in bankruptcy and shutting down if found guilty.

The platform is one part of the Sam Bankman Fried empire; the second part, the FTX exchange, was also greatly affected by this development.

Several investors withdrew from the platform, among them Binance CEO Changpeng Zhao, who decided to liquidate all his FTT assets.

To save FTX from crashing, CZ said in a tweet posted in November that the FTX CEO reached out to him to help him save the platform. In the tweet, he went on to say that Binance would take over FTX.

Alameda, on the other hand, who is desperately in need of FTT as collateral, placed a bid for CZs tokens, but he refused to sell the tokens to them.

All these chain events have made investors and coin holders withdraw from Alameda Research, dumping their assets.

Some crypto enthusiasts have commented in a series of tweets on how events are playing out; among them is a user named Degentrading.

In a thread, he discussed how Changpeng Zhao’s decision will affect Alameda Research, which has resorted to borrowing to maintain balance and save the platform.

FTX tokens serve as collateral for the funds they borrowed from lending protocols like Genesis and Blockfi, the two biggest platforms that render such service in the industry.

FTX tokens have experienced a massive dump in the last 24 hours, losing over 70% of their value, and they continue to dwindle.

There is potential for it to drop to zero; if that happens, Alameda alone won’t bear the brunt, because the lending protocols would be left with illiquid collateral tokens.

Tags: BinanceFTX
Abimbola Adu

Abimbola Adu

Abimbola Adu is a crypto content writer with a background in English studies. She is keen on enlightening others about cryptocurrency and blockchains. She enjoys writing poems and spending time with family.

Related Posts

Shanghai cityscape with overlaying blockchain icons representing its commitment to technological growth.

Shanghai Unveils Blueprint to Boost Blockchain Progress by 2025

September 27, 2023

Shanghai announces a comprehensive strategy targeting rapid blockchain evolution by 2025, aligning with China's support for domestic blockchain...

A graph showcasing the decline in Binance's market share in 2023.

Binance’s Non-Dollar Exchange Market Share Dips by 25%

September 27, 2023

Binance's dominance in non-dollar crypto exchanges takes a hit, dropping 25% since January 2023, facing challenges from competitors...

Aerial view of Tecpetrol's new crypto mining setup, surrounded by the vast landscapes of Argentine Patagonia.

Argentinian Oil Giant Tecpetrol Turns to Crypto Mining Using Excess Gas

September 27, 2023

Tecpetrol ventures into cryptocurrency mining by converting excess gas into energy, setting an example in both sustainability and...

Binance CEO CZ engaged in a discussion regarding the recent HTX hack.

CZ Appoints Binance Security Team to Track Huobi HTX Stolen Funds

September 26, 2023

Binance's CZ extends a helping hand to Huobi HTX after a hack drained $8 million from the exchange....

Press Releases

David Ferrucci next to the Elemental Cognition brand emblem.

BM Watson’s Lead Developer Secures $60M for New AI Venture, Elemental Cognition

August 18, 2023

David Ferrucci, has raised a remarkable $60M for his AI startup. The company brings forward two pioneering chatbot solutions designed...

pulse5

Amsterdam Gets with the Dutch Blockchain Days the Biggest Event of the Benelux in the Field of Blockchain, Crypto Currencies, NFTs and Other Web3 Developments

May 8, 2023

Discover the future of blockchain, crypto, NFTs, and Web3 at Dutch Blockchain Days, the largest event in Benelux.

pulse4

Korea Blockchain Week 2023 Set to Push the Boundaries after Record-Breaking 2022 Event

May 8, 2023

Korea Blockchain Week 2023 returns after a highly successful 2022 event, featuring leading experts and the latest trends in blockchain...

pulse3

Istanbul Will Be Hosting Eurasia’s Largest Blockchain Event Once again on May 8–11, 2023

May 8, 2023

Join Eurasia's largest blockchain event, the Blockchain Economy Istanbul Summit, May 8-11, 2023, and discover the future of financial technology.

View All
BTC-Pulse LogoTransparent

© 2023 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

©2023 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise