FTX: Alameda Research has most of its Assets in Illiquid Altcoins
According to a report by CoinDesk, FTX chief Sam Bankman-Fried‘s crypto empire might be built on shaky legs. Bankman-Fried’s empire is largely divided between his exchange, FTX, and trading firm, Alameda Research. CoinDesk has reviewed a private financial document on FTX’s sister company, Alameda Research. The study found that a majority of the assets held by Alameda are in the form of illiquid altcoins. According to the report, most of Alameda’s balance sheet is made up of the native token , FTT . The token entitles owners to a reduction in trading costs on the exchange&rsquo ;s market. Alameda’s assets amounted to $14.6 billion, of which $3.66 billion was made up of unlocked FTT . Moreover, $2.16 billion in FTT collateral is the third-largest entry on the assets side of the accounting ledger. Furthermore, other entries on the balance sheet include $3.37 billion worth of crypto. Large quantities of the native Solana blockchain cryptocurrency ar...
