FTX Subsidiary Alameda Research’s Assets And Debts On DeFi

Crypto exchange FTX reached out to rival crypto exchange Binance for seeking help with the liquidity crisis. As a result, Binance signed a non-binding LOI with the intent to acquire FTX. Meanwhile, Alameda Research is also under a liquidity crunch, with data indicating 56 addresses starting with “0x” having $222.4 million in assets.

Alameda Research’s Assets and Debts

On-chain analytics platform Lookonchain in a tweet on November 9 revealed that Alameda Research’s 56 addresses starting with “0x” have $222.4 million in net worth. Among Alameda‘s 56 addresses, 19 addresses are worth over $100,000 and 13 addresses have a net worth of over $1 million. Interestingly, most of Alameda’s assets are in just a few addresses.

Alameda has assets worth $150.53 million in wallets. Assets excluding stablecoins, ETH, BIT, and FTT tokens are worth nearly $1 million. The trading firm liquidated Solana (SOL) tokens after Binance announced to liquidate FTT tokens. Alameda addresses also hold significant amounts of SRM, OP, MATIC, MASK, SAND, and FTM tokens.

Alameda has almost $75.50 million worth of assets on DeFi and $3.64 million worth of debts on Defi. The company supplied 6,953,001 FTT tokens worth $35.65 million on Abracadabra. Also, 4,606,611 SUSHI worth $6.11 million are staked on SushiSwap. Alameda has debts related to NEAR, HT, CRV, MIM, AETH tokens in 4 different platforms.

FTX Subsidiary Already Insolvent in Q2

FTX subsidiary Alameda Research was already insolvent in Q2, according to Lucan Nazi, head of R&D at CoinMetrics. Alameda Research was already in deep trouble when FTX announced to bailout some crypto firms. However, the bailouts caused FTX to get into liquidity crunch.

In fact, Alameda-FTX moved 173 million FTT tokens worth a staggering $4 billion on September 28. On the same day, $8 billion worth of FTT moved on-chain.

As per CoinMarketCap, FTX Token (FTT) is currently trading at $4.71, down nearly 75% in the last 24 hours. The token touched a low of $3.15. Investors and VC firms are concerned about their investments in the firm. The crypto exchange FTX recently raised $2 billion in funding at a valuation of $32 billion.