Once celebrated as a leading crypto exchange, FTX has recently been overshadowed by its financial troubles leading to bankruptcy. As investigations continue, startling new details arise about the company’s downfall, even as its founder, Sam Bankman-Fried, faces incarceration.
Blockchain data analysis company Nansen reported that it closely examined large-scale transfers between FTX and Alameda Research. These investigations again revealed close connections between the FTX exchange founded by Sam Bankman-Fried and Alameda Research. This deep relationship between the two companies is also shown in connection with the accusations the former FTX CEO faced while appearing in court.
Large-Scale Transfers Revealed
According to Nansen’s report, one of the events that led to the collapse of FTX was Alameda’s transfer of approximately 40% of its $14.6 billion assets held in FTT tokens in September 2022. This situation caused a great movement in the market.
According to analysts’ statements, suspicious movements were observed between FTX and Alameda before these large transfers. In particular, it was determined that between September 28 and November 1, Alameda sent FTT tokens worth $ 4.1 billion to FTX and made stablecoin transfers worth approximately $ 388 million.
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