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Blogs > Crypto in a Minute > FTT Beginning To Break >

FTT Beginning To Break

Author: Jeffrey Craig Date: 2022-11-07 03:05:13

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Main Takeaway: A New Big Player Coming Under Fire – Alameda Research

Last week Alameda Research published its holdings and analysts discovered that the assets they’re holding are largely illiquid tokens such as the exchange token, FTT. As a result, CPZ has entered the game announcing they’ll begin spot selling FTT to avoid risk. Alameda owns over 50% of the FTT token, which is risky because of over-centralizing ownership. As the price decreases, Alameda will be the only buyers. The FTT coin is now down 4% d-o-d, with rising open interest and shorts. The main takeaway is despite a recent price spike in cryptos, if there’s another potential big time player getting margin called, it could reignite fear that a LUNA-type situation could occur before the end of 2022.

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