FTX and Alameda Reveal Potential Altcoins for Sale: A Comprehensive Guide for Crypto Traders (BTC, ETH, XRP)

  • Embattled crypto exchange FTX continues to liquidate its crypto assets to support its debt repayment plans. In this context, FTX announced repayments to creditors and customers with additional interest. However, FTX creditors stated they were not satisfied with the repayment plan. Accordingly, creditors stated they demanded crypto payments instead of USD. If FTX and Alameda want to convert assets into cash, there may be substantial sales.
  • As you follow from CoinOtag, in April, crypto exchange FTX and its sister company Alameda Research liquidated a significant portion of their crypto assets worth $98 million. As we know, FTX is getting rid of its Solana (SOL) assets to repay its customers. There is a possibility that this sale from the crypto exchange may continue.
  • According to data from blockchain analytics firm Arkham Intelligence, tagged wallets associated with FTX and Alameda Research initiated a total liquidation of $97.35 million last month. FTX has $33.85 million worth of BOBA and $11.22 million worth of ETH. In addition, FTX controls more than 78% of the FTT supply. On the other hand, Pantera Capital absorbed most of the sales of FTX’s Solana Holdings. Meanwhile, Alameda Research owns $140 million worth of WLD, $102 million BIT. In addition, it has significant positions in various assets including $93 million BTC and $48 million STG. Therefore, there is a sufficient likelihood that these two companies will dispose of their shares in the future.

FTX and Alameda continue to liquidate their crypto assets to support their debt repayment plans. However, creditors are not satisfied with the repayment plan and demand crypto payments instead of USD.

Are FTX and Alameda Preparing for More Sales?

FTX and its sister company Alameda Research liquidated a significant portion of their crypto assets worth $98 million in April. There is a possibility that this sale from the crypto exchange may continue. According to data from blockchain analytics firm Arkham Intelligence, tagged wallets associated with FTX and Alameda Research initiated a total liquidation of $97.35 million last month.

Noteworthy Assets Held by FTX and Alameda

FTX has $33.85 million worth of BOBA and $11.22 million worth of ETH. In addition, FTX controls more than 78% of the FTT supply. On the other hand, Alameda Research owns $140 million worth of WLD, $102 million BIT. In addition, it has significant positions in various assets including $93 million BTC and $48 million STG.

Increase in Compensation Claims and Creditors’ Demands

Meanwhile, investor interest in FTX’s debts increased after the draft recovery plan, which predicts a recovery rate of 118% for the majority of creditors. Louis Origny, the Technology Director of FTXCreditor, which has already received more than 2,100 requests, predicts an increase in demand purchase activities. However, creditors are also expressing their opposition to the repayment plan. The primary problem at hand is the freezing of the valuation of customer crypto assets by the bankruptcy table in November 2022. As a result, most FTX creditors are demanding their repayments back in crypto assets instead of USD. Crypto exchange FTX has not yet responded to this.

Conclusion

FTX and Alameda continue to liquidate their crypto assets to support their debt repayment plans. However, creditors are not satisfied with the repayment plan and demand crypto payments instead of USD. The primary problem at hand is the freezing of the valuation of customer crypto assets by the bankruptcy table in November 2022. As a result, most FTX creditors are demanding their repayments back in crypto assets instead of USD. Crypto exchange FTX has not yet responded to this.

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Alican is a young and dynamic individual at the age of 23, with a deep interest in space exploration, Elon Musk, and following in the footsteps of Atatürk. Alican is an expert in cryptocurrency, price action, and technical analysis. He has a passion for sharing his knowledge and experience through writing and aims to make a positive impact in the world of finance.
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