25 April, 2024



Almeda Research Pools Assets into an Address That Holds Approx. $93.6M Worth of Assets

22 Nov, 2022

22 Nov, 2023

According to Lookonchain, Alameda Research, the heart of Sam Bankman-Fried’s and FTX’s downfall, resumes liquidations after the weekend and pools assets into an address starting with 0xf02e, which currently holds approximately $93.6 million worth of assets.

The data reveals that a total of $2.4M in assets were transferred to the contract address 0xF02e, on Tuesday. This includes 200,279 $DYDX ( worth $378,527), 242 $ETH (worth $266,683), 2M $KEEP (worth$159,846), and more.

Last week, FTX and Alameda, both founded by Sam Bankman-Fried, filed for Chapter 11 bankruptcy protection, with Bankman-Fried stepping down as CEO as well. In a court statement, new FTX CEO John J. Ray III claimed that Alameda Research had “secret exemptions” from liquidation protocols on FTX.

According to Etherscan data revealed by Lookonchain, the contract address 0xF02e was created after Alameda filed for bankruptcy and reorganisation, and the contract creator is funded via Binance US.

On November 12, 0xF02e began to receive funds from various Alameda addresses, including the CEX address. The address currently holds a total of 2,748 $ETH ($3M) and $90M worth of ERC 20 tokens, Including 40.77M $USDC, 100M $BIT(worth 27.57M), 3.4M xSUSHI(worth $5.13M), and more.

Crypto exchange FTX fell from grace in recent weeks following CoinDesk’s revelation that a large portion of sister company Alameda Research’s assets were the crypto exchange’s tokens. On November 11, the exchange filed for Chapter 11 bankruptcy in U.S. courts in a haphazard manner, mislabeling that some companies under the FTX umbrella were also filing for bankruptcy protection. According to another court filing, it may have over a million creditors and owes $3.1 billion to the 50 largest.

Alameda Research has the largest cash reserve of the various entities, totalling $393 million. According to reports, Alameda transferred $2.7 million in Serum, FTX, and Uniswap tokens into a wallet where the now-bankrupt trading desk amassed $89 million in assets last week.

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