Binance CEO CZ announced on November 6 that his exchange will sell all FTX Tokens (FTT) it holds, citing Alameda’s disclosed balance sheet. This caused anxiety among investors, then a liquidity crisis in FTX due to the massive demand for withdrawals. Here is the list of altcoins that FTX and Alameda now hold in public Ethereum wallets…
Reserves of FTX and Alameda
While Alameda’s largest reserve is in USD Coin, FTX’s largest asset remains its own token, FTT. Sister companies’ reserves dwindled significantly after illicit loans, customer withdrawals and a market plunge. Currently, FTX CEO Sam Bankman-Fried (SBF) is seeking $10 billion in external financing. After the crisis, SBF lost most of its wealth.
According to Dune Analytics data, FTX’s wallets are over $600 million, or down 76% from last week’s figure of $2.6 billion. More than $100 million of that is kept in FTT, which has lost 80% of its value last week. The altcoins that FTX currently holds in its wallet are as follows:
- FTX Token (FTT) – $101 million
- USD Coin (USDC) – $69 million
- Paxos Gold (PAXG) – $61 million
- Dai (DAI) – $50 million
- It also holds over $40 million in Ethereum and sETH each.
Alameda’s wallet
On the other hand, sister company Alameda’s $146 million public wallet is heavily stablecoins:
- USD Coin (USDC) – $60 million
- True USD (TUSD) – $16 million
- Dai (DAI) – $6 million
Alameda also holds over $33 million in Bittorrent (BTT). Justin Sun, who founded Bittorrent and Tron, announced yesterday that they will assist in retrieving Tron-based tokens such as TRX and BTT from FTX. Alameda’s relatively smaller assets include $5 million in staked Sushi (XSUSHI), $3 million in Ethereum staking service Lido (LDO), and just under $3 million in Serum (SRM). Alameda’s wallet currently has only $680,000 worth of Ethereum.
As you follow on Kriptokoin.com, some of FTX’s hot wallets started operations again on November 8th. Blockchain data has since detected the transfer of multiple token types. One of the transactions was worth $469 million.
Meanwhile, the crypto community continues to be bombarded with rumors and conspiracies, entering the fifth day of FTX’s decline. The most prominent is November 11, which claims that Sam Bankman-Fried (SBF) was arrested on the tarmac at the Bahamas airport. Amid all these developments, FTT price is trading at $3.16. It recovered around 5% as hot wallets became active again.
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