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Which tokens could FTX dump on the market?

  • News
  • January 18, 2023
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The rundown of illiquid tokens incorporates a Donald Trump expectation token, a creature gathering pledges coin and tokens for a few Solana projects.

The new administration of the bankrupt FTX trade has distinguished $5.5 billion in resources that can be utilized to reimburse lenders, starting feelings of trepidation an enormous wrap of crypto resources could be unloaded on business sectors.

On Jan. 17, FTX account holders distinguished $3.5 billion in crypto resources with $1.6 billion related with the bankrupt trade. The most popular possessions are Solana’s SOL and FTX trade token FTT, alongside fluid resources including XRP, DOGE, Aptos (Able), Polygon (MATIC), TON, and BitDAO (Touch).

Vendors esteemed the tokens at the hour of the chapter 11 appeal. Cinneamhain Adventures accomplice, Adam Cochran, remarked:

“So vendors were counting token costs upon the arrival of documenting, and believe the $529M of FTT to be ‘fluid’ in this estimation, as well as $685M of Solana which would uber nuke the SOL market.”

A rundown of illiquid crypto tokens has likewise been recognized raising worries they could be auctions off causing a cost crash.

On Jan. 18, Fortune journalist Leo Schwartz additionally posted the FTX report, featuring the “illiquid tokens” list incorporates just about 10 billion Serum (SRM), LUNA, and Solana-wrapped variants of BTC and ETH.

In any case, many were dark task tokens like TRUMPLOSE, BEAR, and MEDIA.

He featured TRUMPLOSE as an “Hidden treat” which connects to FTX and Alameda supporting liberal government officials with enormous gifts. TRUMPLOSE is an expectation token that FTX utilized during the U.S. official political decision. Brokers could buy TRUMPWIN or TRUMPLOSE tokens that would set out to $1 ought to Best have won or lost. FTX holds very nearly 14 million of them.

BEAR Coin is a digital currency intended to assist creatures by decentralized gathering pledges in participation with NGOs and creature darlings. There are 190 billion of them on the FTX accounting report.

It likewise has 8.3 million tokens from the transmission capacity sharing organization, Media. The rundown happens with 9.8 billion Guides tokens from the travel application, and just about 10 billion OXY tokens for the Solana-based DeFi agent Oxygen.

Other illiquid resources incorporate 2.4 billion Alium Money (ALM), and in excess of 277 million in Bonafida (FIDA), a Solana engineer stage. The rundown additionally included BRZ, GT, As, HRXO, MSOL, JSOL, XSUSHI, AELPH, and Fly property.

SBF actually contributing to a blog

On Jan. 18, FTX organizer Sam Bankman-Seared returned with another blog entry asserting the FTX report’s data on the condition of the business was “incredibly deceptive.”

“FTX US was dissolvable when it was gone over to S&C [Sullivan and Cromwell], and without a doubt stays dissolvable today,” he expressed.

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