Research: Genesis received over $1B worth of FTT from Alameda, FTX in last 3 months

Research: Genesis received over $1B worth of FTT from Alameda, FTX in last 3 months

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Research: Genesis received over $1B worth of FTT from Alameda, FTX in last 3 months

CryptoSlate2 months ago
Published on November 21, 2022 19:48 GMT+00:00edited on November 22, 2022 16:31 GMT+00:00

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An analysis of the Arkham Intelligence dashboard CryptoSlate Research shows that popular crypto lender Genesis received billions in FTT tokens from bankrupt crypto firms Alameda Research and FTX over the past year.

For context, Genesis received  $932.56 million worth of FTT tokens from FTX within the last three months, while it received $141.1 million worth of struggling tokens from Alameda Research during the same period.

The crypto lender recently halted all customer withdrawals due to the FTX’s collapse. Genesis stated that the incident resulted in “abnormal withdrawal requests” that exceeded its liquidity.

Meanwhile, reports revealed that the lender had failed to get an emergency loan of $1 billion from investors in the wake of the collapse.

Meanwhile, the extent of …