Alameda Research Sells Stablecoins Worth IDR 4.5 Trillion To The Crypto Exchange

Alameda Research sells hundreds of millions of dollars in stablecoins. (Photo; Doc. Cryptofacil)

JAKARTA The crypto trading service company Alameda Research founded by Sam Bankman-Fried (SBF), is reported to have sold IDR 4.5 trillion of stablecoin cryptocurrencies to crypto exchanges recently. The sale took place between October 31 and November 2, according to a CryptoSlate report.

The Market Maker sold USD 168 million US dollars (approximately IDR 2.6 trillion) to a relative company, the crypto exchange FTX. Alameda Research also sold USDP worth USD 66 million (equivalent to IDR 1 trillion) to the Binance crypto exchange. It didn't stop there, the company also sold USDC worth USD 50 million (approximately IDR 784 billion) to Circle.

A massive outflow occurred before the Federal Open Market Committee (FOMC) meeting. The Federal Reserve is expected to raise interest rates by 0.75% for the fourth time.

Research conducted by CryptoSlate states that high interest rates may be needed to suppress inflation that could rise further as households take advantage of their cash savings.

In addition, Alameda Research also has most of the ownership of FTX tokens (FTT) as reported by Coindesk. According to the report, Alameda holds an FTT token worth around 5.82 billion (equivalent to Rp90.1 trillion. It did not stop there, the company also holds an "unlocked FTT" worth 3.66 billion (around Rp57.4 trillion) and FTT guarantee worth 2.16 billion (equivalent to Rp33.9 trillion).

Alameda also has a locked FTT token worth $292 million. The company also has $292 million "FTT locked" among its 8 billion liabilities. The report states that Alameda also holds a significant amount of Solana (SOL) token. Crypto trading firms hold "292 million US dollars in unlocked SOLs, "and 863 million dollars 'SOL locked' and 41 million dollars 'guarantee in SOL'."

About Alameda Research

Alameda Research is a leading technology-based technology-based major trading company developed internally and deep crypto skill from the team to trade thousands of digital asset products: all major coins and altcoins, as well as their derivatives.

Since 2017, we have been constantly building globally focused teams and infrastructure with the ability to trade across all major exchanges and markets. Alameda Research sees its assets grow from 4 million - 400 million dollars in less than 6 months, "wrote a statement from the official Alameda website.

The company is based in Central and Western, Hong Kong. Founded by FTX founder Sam Bankman-Fried, Alameda mostly invests in Blockchain tokens, protocols, and companies that generate interest for investors globally. Now, Alameda Research manages more than 2.5 billion US dollars in capital in multi-strategic funds for individuals and organizations with high net worth.