<div class="watcher-guru">
 <p>Blockchain analytics firm Nansen revisited suspicious on-chain activity between crypto exchange FTX and trading firm Alameda Research in a new report on the lead-up to FTX’s implosion.</p>
 <p>Analysts spotlighted over $4 billion worth of <a rel="noopener noreferrer nofollow" title="FTT" href="https://thebittimes.com/tag/ftt.html">FTT</a> tokens transmitted between <a rel="noopener noreferrer nofollow" title="FTX" href="https://thebittimes.com/tag/ftx.html">FTX</a> and <a rel="noopener noreferrer nofollow" title="Alameda" href="https://thebittimes.com/tag/alameda.html">Alameda</a> from late September up until early November 2022. This period was just before <a rel="noopener noreferrer nofollow" title="FTX" href="https://thebittimes.com/tag/ftx.html">FTX</a> froze withdrawals.</p>
 <p>The continuous FTT flows represented by far the largest volume of tokens exchanged between the two intertwined companies founded by Sam Bankman-Fried.</p>
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 <figure class="wp-block-image size-full"><img decoding="async" width="791" height="375" src="https://cdn.thebittimes.com/images/2023/10/05/2bc1baaef98e308e195d544f6731cce1.webp" alt class="wp-image-114868" srcset="https://cdn.thebittimes.com/images/2023/10/05/2bc1baaef98e308e195d544f6731cce1.webp 791w, https://cdn.thebittimes.com/images/2023/10/05/2bc1baaef98e308e195d544f6731cce1.webp 300w, https://cdn.thebittimes.com/images/2023/10/05/2bc1baaef98e308e195d544f6731cce1.webp 768w, https://cdn.thebittimes.com/images/2023/10/05/2bc1baaef98e308e195d544f6731cce1.webp 380w, https://cdn.thebittimes.com/images/2023/10/05/2bc1baaef98e308e195d544f6731cce1.webp 550w" sizes="(max-width: 791px) 100vw, 791px">
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 <h2 class="wp-block-heading" id="h-on-chain-data-shows-4b-ftt-token-shuffling-between-bankrupt-firms">On-chain data shows $4B+ FTT token shuffling between bankrupt firms</h2>
 <p>This on-chain data underscores the dangerously close relationship between FTX and Alameda that ultimately catalyzed the catastrophic contagion.</p>
 <p>The report also noted Alameda’s FTT-heavy balance sheet, with FTX holding around 80% of the total FTT supply. This lopsided dynamic allowed the entities to prop up each other’s finances.</p>
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 <p>Additionally, Nansen tied the $4 billion in <a rel="noopener noreferrer nofollow" title="FTT" href="https://thebittimes.com/tag/ftt.html">FTT</a> shuffling to loans <a rel="noopener noreferrer nofollow" title="Alameda" href="https://thebittimes.com/tag/alameda.html">Alameda</a> reportedly took out using <a rel="noopener noreferrer nofollow" title="FTT" href="https://thebittimes.com/tag/ftt.html">FTT</a> as collateral. This link reveals the magnitude of <a rel="noopener noreferrer nofollow" title="Alameda" href="https://thebittimes.com/tag/alameda.html">Alameda</a>’s reliance on sister company <a rel="noopener noreferrer nofollow" title="FTX" href="https://thebittimes.com/tag/ftx.html">FTX</a> for financing.</p>
 <p><strong>Also read:&nbsp;SEC Asks Judge to Deny Coinbase Motion to Dismiss its Lawsuit</strong></p>
 <p>In totality, the on-chain evidence depicts a conspicuous degree of co-dependence and resource shuffling between the two Bankman-Fried-led firms.</p>
 <p>While the activity was hidden in plain sight on-chain, observers failed to connect the dots before the house of cards collapsed. The saga underscores the importance of blockchain analytics in detecting financial manipulation.</p>
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<div class="cs-entry__tags">
 <ul>
  <li>Alameda</li>
  <li>FTT</li>
  <li>FTX</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/alameda-transfers-4-1b-in-ftt-to-ftx-before-collapse-report-tbt65130.html">https://thebittimes.com/alameda-transfers-4-1b-in-ftt-to-ftx-before-collapse-report-tbt65130.html</a></p>

Alameda Transfers $4.1B in FTT to FTX Before Collapse: Report

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