Claim Giveaway Token Proof of Reserve

Why Did Deribit Exchange Give FTX Alameda Research 10,000 ETH?

  • Reports say Deribit sent over 10,000 ETH to FTX's Alameda Research wallet account.

  • The exchange denied exposure to FTT or FTX assets. It also wrote that it has no exposure to Solana's SOL token, which was linked to FTX and Alameda Research.

Why Did Deribit Exch

FTX's Alameda Research wallet address received over 10,000 ETH, according to reports, via the derivatives exchange Deribit.

With fresh information emerging every other day, the current FTX saga seems to have no end in sight. The FTX conglomerate's trading arm, Alameda Research, has recently come to light as funding crypto media outlets like TheBlock, which has put the company back in the limelight for all the wrong reasons. This time for a dubious transaction with Deribit, the top cryptocurrency derivatives exchange.

Deribit Transfers $12 Million To Alameda

10,000 ETH total have been placed by the Deribit cryptocurrency exchange into a wallet address with the alphanumeric value of 0xF02...0713, according to blockchain explorer Etherscan. And Nansen has identified this address as "Alameda Research: Wallet."

These transactions, which date back to December 10, total close to $12 million at the current exchange rate.

No one has yet publicly stated the motivation behind these transactions, and no one organisation has offered a definitive response.

Deribit Refused Publicity

The now-defunct FTX's sibling company, Alameda Research, was said to have no "large and dangerous" investments with the cryptocurrency exchange in the past.

The exchange had also disputed claims that it had exposure to its exchange token, FTT, or assets in FTX. Furthermore, it declared in writing that it had no exposure to Solana's SOL token, which had connections to FTX and Alameda Research.

Deribit also reiterated that it has no trading desks or group entities that conduct trades or clear markets on its behalf.

Portfolio of Alameda's Private Equity

Data reveals that FTX and Alameda held stakes in numerous firms, which surprised many people. Many of them worked in the crypto business, primarily in the DeFi ecosystem, but others were employed by non-crypto companies including Elon Musk's SpaceX and The Boring Company.

The majority of Alameda's leftover resources were put toward cryptocurrencies and other DeFi initiatives, such as TrueFi, Magic Eden, Burnt Finance, Parallel Finance, Solfarm, Sundaeswap, Sahicoin, and others.

It is claimed that the total investment value exceeds $5.4 billion.

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