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WSJ: Alameda amassed crypto tokens ahead of FTX listings, public data shows

2022/11/15 00:55

Over the course of a year, trading firm Alameda Research amassed swaths of tokens ahead of affiliated crypto exchange FTX saying it would list them, according to an analysis of public blockchain data from analytics firm Argus. On the days that FTX said it would be listing tokens between the start of 2021 and March of this year, Alameda held roughly $60 million worth of tokens combined across 18 listings of coins tied to the Ethereum blockchain. Public data has suggested a crypto-wide issue with the timing of listings of tokens by exchanges, with traders standing to profit by acquiring coins before listings and selling them afterwards. It’s unclear if or when Alameda sold the tokens tracked by Argus. Over that time period, FTX listed almost 60 Ethereum-blockchain based tokens, the firm said. “What we see is they’ve basically almost always in the month leading up to it bought into a position that they previously didn’t. It’s quite clear there's something in the market telling them they should be buying things they previously hadn’t,” said Omar Amjad, co-founder of Argus. Spokespeople for Alameda and FTX did not immediately respond to a request for comment. In a February email to The Journal, Sam Bankman-Fried, the former chief executive of FTX, said that Alameda had the same access to information as all other market makers on the platform and that its traders didn’t have special access to client information, market data or trading.
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