{"id":69635,"date":"2022-11-07T11:39:35","date_gmt":"2022-11-07T09:39:35","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69635"},"modified":"2025-09-07T21:15:17","modified_gmt":"2025-09-07T18:15:17","slug":"alameda-research-says-it-would-buy-ftt-from-binance-at-22-per-token","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/alameda-research-says-it-would-buy-ftt-from-binance-at-22-per-token\/","title":{"rendered":"Alameda Research says it would buy FTT from Binance at $22 per token"},"content":{"rendered":"<p>Caroline Ellison, CEO of Alameda Research, which is owned by Sam Bankman-Fried, said she was prepared to buy Binance&#8217;s FTX (FTT) utility token at $22 per token.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/cz_binance?ref_src=twsrc%5Etfw\">@cz_binance<\/a> if you\u2019re looking to minimize the market impact on your FTT sales, Alameda will happily buy it all from you today at $22!<\/p>\n<p>\u2014 Caroline (@carolinecapital) <a href=\"https:\/\/twitter.com\/carolinecapital\/status\/1589287457975304193?ref_src=twsrc%5Etfw\">November 6, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The top executive responded to tweets from Binance\u2019s chief Changpeng Zhao. He stated Binance\u2019s aim to liquidate the FTT it holds, which together with BUSD totalled about $2.1 billion as part of the company\u2019s exit from its portfolio investment in FTX.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">As part of Binance\u2019s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books. 1\/4<\/p>\n<p>\u2014 CZ \ud83d\udd36 Binance (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1589283421704290306?ref_src=twsrc%5Etfw\">November 6, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Zhao promised to minimise market impact of the deal and expressed readiness to complete it within a few months. He stressed that the move was not aimed at a competitor, because Binance is important for sustaining the resilience of a nascent industry. The reason, he said, were \u201crecent revelations\u201d.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Binance always encourages collaboration between industry players. Regarding any speculation as to whether this is a move against a competitor, it is not. Our industry is in it\u2019s nascency and every time a project publicly fails it hurts every user and every platform. 3\/4<\/p>\n<p>\u2014 CZ \ud83d\udd36 Binance (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1589283430684319744?ref_src=twsrc%5Etfw\">November 6, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Binance\u2019s CEO may have had in mind CoinDesk\u2019s investigation, which showed the close intertwining of FTX and Alameda Research. <\/p>\n<p>Journalists obtained access to an internal document showing that out of Alameda\u2019s $14.6 billion in assets as of June 30, $3.66 billion were \u201cunblocked FTT\u201d, $2.15 billion \u2014 \u201cFTT in collateral.\u201d This was the first and third-largest assets on the firm\u2019s balance sheet.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cMost of the net capital in Alameda\u2019s business is its own centrally controlled and air\u2011printed token FTX,\u201d<\/em> commented Swan Bitcoin CEO Cory Klippsten to the publication.<\/p>\n<\/blockquote>\n<p>According to <a href=\"https:\/\/ftx.com\/ftt\">the exchange\u2019s site<\/a>, 202.05 million FTT are in circulation, valued at $4.45 billion.<\/p>\n<p>In response to the publication, the Alameda Research CEO explained that the figures mentioned do not tell the whole story \u2014 the firm also has assets totalling more than $10 billion.<\/p>\n<p>The document showed several large long positions without hedging assets. According to Ellison, amid the crypto winter Alameda Research has reduced its leverage.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\u2014 the balance sheet breaks out a few of our biggest long positions; we obviously have hedges that aren\u2019t listed<br \/>\u2014 given the tightening in the crypto credit space this year we\u2019ve returned most of our loans by now<\/p>\n<p>\u2014 Caroline (@carolinecapital) <a href=\"https:\/\/twitter.com\/carolinecapital\/status\/1589264377433456641?ref_src=twsrc%5Etfw\">November 6, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Bankman-Fried also addressed CoinDesk\u2019s investigation. The head of FTX assured that the bitcoin exchange is strictly regulated, and its reporting is audited. The company values its customers and is grateful to those who continue to cooperate, and would be glad to welcome back anyone who returns.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">4) And in the end you should do what you want, and trade where you want. We\u2019re grateful to those who stay; and when this blows over we\u2019ll welcome everyone else back.<\/p>\n<p>\u2014 SBF (@SBF_FTX) <a href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1589399428716449792?ref_src=twsrc%5Etfw\">November 6, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analyst firm Nansen reported that in the last 24 hours, Alameda Research sent about $257 million to FTX in USDC, amid notable outflows from the Bitcoin exchange.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Good accompanying tweet \u2014 <a href=\"https:\/\/t.co\/d6WkXrpm6N\">https:\/\/t.co\/d6WkXrpm6N<\/a><\/p>\n<p>\u2014 Nansen Intern \ud83e\udded (@nansen_intern) <a href=\"https:\/\/twitter.com\/nansen_intern\/status\/1589429925324685312?ref_src=twsrc%5Etfw\">November 7, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>User theData_Nerd drew attention to the contraction of FTX\u2019s Ethereum balance from 493,000 ETH to 162,000 ETH and the transfer of Alameda Research coins from other platforms (mostly Binance) to FTX.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The movement of <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> is concerning, too.<a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> balance on <a href=\"https:\/\/twitter.com\/FTX_Official?ref_src=twsrc%5Etfw\">@FTX_Official<\/a> dropped from 493k on Nov 4 to 162k today by <a href=\"https:\/\/twitter.com\/cryptoquant_com?ref_src=twsrc%5Etfw\">@cryptoquant_com<\/a>.<\/p>\n<p>Meanwhile, Alameda is transferring <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> from other exchanges (mostly <a href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\">@binance<\/a>) to FTX.<\/p>\n<p>Within 24h, the total deposit is 26,6K <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> ($42M) <a href=\"https:\/\/t.co\/qzL7Gg7eV2\">pic.twitter.com\/qzL7Gg7eV2<\/a><\/p>\n<p>\u2014 The Data Nerd (\ud83d\udc99,\ud83e\udde1) (@theData_Nerd) <a href=\"https:\/\/twitter.com\/theData_Nerd\/status\/1589471443825270787?ref_src=twsrc%5Etfw\">November 7, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">7 November 2022 | 15:47<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>FTX assured clients that slow Bitcoin withdrawals were due to limited network throughput. Regarding delays in executing stablecoin transfers from exchange deposits, management suggested waiting for the start of the business day of financial institutions.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">3: Stablecoins: processing. Banks are closed for the weekend, though; USD <> stablecoin creations\/redemptions might be slower until wires clear tomorrow, especially for some coins\/chains.<\/p>\n<p>\u2014 FTX (@FTX_Official) <a href=\"https:\/\/twitter.com\/FTX_Official\/status\/1589510763328450561?ref_src=twsrc%5Etfw\">November 7, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Users were divided in their assessment of FTX\u2019s customer support. Some considered the platform\u2019s statements that it was not experiencing problems a red flag.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Telling everyone how fine you are is the first red flag you are not<\/p>\n<p>\u2014 dogterdogter (@dogterdogter) <a href=\"https:\/\/twitter.com\/dogterdogter\/status\/1589511047593222144?ref_src=twsrc%5Etfw\">November 7, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Others <a href=\"https:\/\/www.reddit.com\/r\/CryptoCurrency\/comments\/yocfrn\/serious_celsius_was_saying_withdrawals_are_fine\/\">drew parallels<\/a> with Celsius Network\u2019s situation, when its CEO Alex Mashinsky <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-network-creditors-block-sale-of-part-of-mined-bitcoins\">misled<\/a> customers about the true state of affairs before the start <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-files-for-bankruptcy-protection\">of the restructuring process<\/a>.<\/p>\n<\/div>\n<p>In July 2021, FTX, following a Series B financing round<a href=\"https:\/\/u1f987.com\/en\/news\/ftx-raises-900-million-at-an-18-billion-valuation\"> raised $900m<\/a>.<\/p>\n<p>The deal provided the resources for the buyback of Binance\u2019s shares for an undisclosed amount, which Binance invested in the platform in December 2019.<\/p>\n<p>Later Bankman-Fried<a href=\"https:\/\/u1f987.com\/en\/news\/ftx-chief-explains-divorce-from-binance-as-a-difference-in-business-approach\"> explained<\/a> the \u201cdivorce\u201d from Binance as a difference in approaches to doing business.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CEO of Alameda Research, Caroline Ellison, said she was willing to buy FTT from Binance at $22 per token.<\/p>\n","protected":false},"author":1,"featured_media":69636,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1435,744,1236],"class_list":["post-69635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-alameda-research","tag-binance","tag-ftx"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=69635"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69635\/revisions"}],"predecessor-version":[{"id":69637,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69635\/revisions\/69637"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/69636"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=69635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=69635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=69635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}