According to data analysis, Alameda Research withdrew over $1.5 billion from FTX before the balance sheet was exposed by Coindesk.
According to 0xScope’s analysis, from October 20 to November 2 (when CoinDesk revealed Alameda’s balance sheet), Alameda withdrew more than $1.5 billion from FTX.
At the top was Genesis which withdrew about $300 million, but it deposited another $40 million per day before FTX stopped depositing, Jump also withdrew $300 million from FTX and hasn’t deposited since.
As was updated in an earlier Coincu News article, the overturning of Alameda’s balance sheet was the beginning of a series of events that resulted in the current collapse of FTX. FTX and its affiliates filed for bankruptcy protection on November 11.
At his heyday, Sam Bankman-Fried owned a fortune of $26 billion. At the start of this week, his fortune was still at $16 billion, but by November 9, it had dropped to $1 billion, according to Bloomberg.
By the end of November 10, all assets had evaporated. The Bloomberg Billionaires Index puts the value of the US subsidiary of FTX at just $1, down from $8 billion after a January 2022 funding round. Mr. Bankman-Fried owns nearly 70% of FTX branches in the US.
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