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- Almeda Research is doing something dangerous and risky if we go through the recent reports.
- The platform seems to have the majority of its assets in illiquid altcoins, which is not so good.
- News that is even worse than this is the lion’s share of its assets is in FTT. It will be very dreadful for the crypto community iF Alameda Research collapses.
But, this could only be a trailer. According to the report, the Alameda research has $14.6 B in assets along with $8B in liabilities.
You can definitely through the way if you have total faith in it. But, when you invest in your own token, it has various risks associated with it. The FTT token is very identical to the BNB. it is the FTX space’s utility token which provides holders with each and every benefit along with discounts in terms of trading and transaction fees. This is the reason why FTX often pushes the FTT token.
Dylan LeClair, an analyst stated that “majority net equity tied in fully illiquid altcoins.” The financial details provided by Alameda research acknowledge completely many FTT:
“The financials make what the overseer so far guess: Almeda is massive. The total assets of the platform were estimated at $14.6 billion on June 30. It is noteworthy that this is the single biggest asset: $3.66 billion of free FTT.
The share of FTX tokens in the $8 billion of liabilities and $292 million of free FTT is in the majority. But the question is… is it an issue?
Dylan LeClair compared it to give a more clear idea: “The total market capitalization of FTT is $3.35b and the completely modified market cap is $8.8b. The fact is you can’t sell $1m of this without making the market vitally lower.” That is true, they keep the complete future of FTT in their hands. Which is not perfect.
What did the CEO of swan state?
Cory Klippsten, the CEO of Swan also shares this topic in a very persuasive manner. “It is interesting to witness that most of the net equity in Alameda is managed by FTX itself and printed out of thin air tokens. Actually, as per LeClair, the assets of the firm have $5.82 worth of FTT and the existing market capitalization is $3.35B. Which is also not perfect.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
