DeFi protocol Oxygen held 95% of supply on FTX

Solana-based decentralized prime brokerage platform Oxygen Protocol revealed on Nov. 15 that 95% of its MAPS and OXY tokens supply were held on bankrupt crypto exchange FTX. 1/ The MAPS and Oxygen teams are shocked by events relating to FTX Group’s bankruptcy proceedings. — Oxygen – Decentralized Prime Brokerage (@Oxygen_protocol) November 15, 2022 The statement…

Huobi, Gate.io, Crypto.com see spikes in flow to FTX

The full consequences of the FTX fallout are still unknown. As FTX, its U.S. subsidiary, and Alameda Research all filed for bankruptcy protection, it could be months before the public gets to see what happened in Sam Bankman-Fried’s crumbled trading empire. Until that happens, what we’re left with is on-chain data that can point us…

FTX, Alameda used Binance as intermediary for their parasitic relationship

In the aftermath of the FTX fallout, Bitcoin saw its price drop to a two-year low of $15,000, the exchange’s native token is on its way to becoming essentially worthless, and stablecoins across the market have been struggling to keep their peg. However, the fall of Sam Bankman-Fried’s empire is far from over. The contagion…

Tether, Circle deny exposure to FTX, Alameda

The issuers of the two largest stablecoins, Tether and Circle, have distanced themselves from the FTX situation, saying they have no exposure to the struggling crypto exchange or  Alameda Research. Tether distances self Tether’s CTO Paolo Ardoino said in response to a Wu Blockchain tweet that the USDT issuer had no exposure to FTX or…

FTX stablecoin reserves plunge as community fears bankrun

The crypto community fears FTX might cause another Terra-like crash after the stablecoin reserves on the exchange fell significantly over the last 24 hours. FTX stablecoin outflow leads other exchanges As reported by The Data Nerd, Nansen data shows that FTX stablecoin outflow was the highest among exchanges over the last seven days. According to…

Solend founder says SBF wants to ‘profit at all costs’

Solend (SLND) founder 0xrooter has described FTX founder Sam Bankman-Fried as a “profit maxi” who wants to “profit at all costs.” SBF is a profit maxi: profit at all costs — 🙏🚫 Rooter (hiring!) (@0xrooter) October 24, 2022 According to Rooter, a company’s action reflects its founder’s personality. While he has never had any personal…

Voyager urges Alameda Research to repay $200M loan

Bankrupt Voyager Digital requested that crypto trading firm Alameda Research repay its $200 million loan in a Sept. 19 court filing. According to the filing, Alameda would repay 6,553 BTC (roughly $128 million) and 51,204 ETH ($70 million) to the bankrupt firm. The filing revealed that the Voyager loan included other crypto assets like USDC,…

Voyager secures court approval to refund $270M, says it received better offers than FTX bid

Struggling crypto lender Voyager Digital has been allowed to return its customer’s $270 million deposited with Metropolitan Commercial Bank, The Wall Street Journal reported on August 4. According to the report, Judge Michael Wiles ruled that Voyager had presented a “sufficient basis” to allow its customers access to their funds at the bank. The crypto…