Alameda Research, known as FTX’s sister company, allegedly purchased the tokens before they were listed on FTX.
According to analysis by analytics firm Argus, the firm purchased certain tokens in large quantities before being listed.
Alameda Research Claims Grows
According to the data, the company pre-purchased the tokens that the exchange will list from the beginning of 2021 until March 2022. It was stated that the allocated budget was approximately 60 million dollars.
It is unclear whether or when Alameda sold the tokens listed by Argus. The firm stated that during the specified period, FTX has listed about 60 Ethereum-based tokens.
While listing tokens adds a stamp of liquidity and legitimacy to tokens, they often result in a significant increase in the price of the asset. Knowing that tokens will be listed on exchanges and pre-purchasing them has the potential to generate huge profits for individuals and institutions.
Omar Amjad, co-founder of Argus, said:
“What we see is that they almost always buy more tokens than they did in previous months. It’s clear there’s something in the markets that says they should buy something they haven’t bought before.”
Alameda and FTX spokespersons declined to comment on the matter.
Regulators have put the relationship between FTX and Alameda Research under scrutiny.
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