Based on available on-chain evidence, Nansen identified a series of wallets placing Alameda as one of the earlier liquidity providers for FTX in May 2019. Of the initial 350 million in its native token FTT’s supply, 27 million allegedly ended up on Alameda’s FTX deposit wallet, while the two firms controlled 86% of the supply combined. The setup meant very little FTT was circulating in the open market, making the tokens extremely susceptible to price manipulation.
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Source: Cryptocurrency - investing.com
