DeFi Insight | Blockchain Analysis: The Collapse of Alameda and FTX
November 18, 2022
Today’s DeFi data&news Brought to you by DeFi Insight
“It started with CoinDesk reporting that “There are more FTX tokens among its $8 billion of liabilities: $292 million of “locked FTT.” (The liabilities are dominated by $7.4 billion of loans.).”
Next, Alameda Research’s CEO, Caroline Ellison, offered to buy up Binance’s FTX Tokens (FTT) at $22 per token. What followed was undoubtedly one of crypto’s craziest events — the collapse of FTX and Alameda.
So how did this happen? Did the de-pegging of TerraUSD, Luna’s failure, and the bankruptcy of 3AC all lead to FTX and Alameda’s fall from grace?
Or was it mismanagement of risk and misuse of customers’ funds all along?
Nansen has compiled an in-depth analysis using on-chain data to piece together the fallen dominos of FTX and Alameda. Where possible, we aspire to give an objective account backed by on-chain evidence. Our study does not cover potential off-chain events. This research leverages Nansen’s labeling heuristics to track known wallets of the involved entities and verify their actions on-chain, to make sense of what actually happened during the FTX-Alameda debacle.” @Source
LATEST NEWS
| DEX/CEX/AMM
▪ Crypto firm Multicoin expects contagion from FTX to wipe out many trading firms in coming weeks
▪ FTX’s New Boss Reveals Chaos Left Behind by Bankman-Fried
▪ Sam Bankman-Fried was ordered by Bahamian government to hack FTX after bankruptcy, FTX tells court
▪ Robinhood: Not Lending or Leveraging Crypto, Debt Free and $6 Billion in Cash
▪ Crypto Lender Genesis Had Sought Emergency Loan of $1 Billion
▪ Binance CEO slams Sam Bankman-Fried’s behavior, takes aim at Nouriel Roubini
▪ BINANCE CEO: Industry Recovery Fund has been talked to be around $2B
▪ Uniswap Labs:Introducing Permit2 & Universal Router
▪ Jump Crypto Clarifies: Not Closing Business, Still Actively Investing and Trading
| LAYER1
▪ Sui Testnet Wave 1 Goes Live
| STABLECOIN
▪ Why USDT Issuances Ensures No Risks from FTX_Alameda
▪ Circle: USDC on Solana is operating as expected and there are no issues with issuing or redeeming USDC
| LENDING/CDP
▪ Nexo had offered BlockFi an $850 million deal to potentially acquire it
| BRIDGE
▪ Layer2 cross-Rollup bridge Orbiter Finance adds support for Scroll testnet
| WALLET
▪ Colombia-based crypto platform Zulu raises $5 million seed round
▪ MetaMask Announces the Launch of NFT Price Estimates Powered by NFTBank in the MetaMask Portfolio dApp
| TOKEN
▪ Across Protocol will issue Token ACX on November 28
▪ Gearbox will release a proposal to launch the token in a few days, and it is expected that the token can be transferred in early December
| NFT
▪ Solana’s ecological NFT platform Metaplex announced layoffs, emphasizing that the FTX crash has no direct impact on its financial situation
▪ Hyakki NFT Utility and Marketing Platform Raise $2 Million Seed Round
| FUND
▪ Telegram to Receive $10M for TON Blockchain Effort
▶ Total Value Locked (TVL)
The current total locked volume of DeFi on the entire network is US $42.78 billion, a 24-hour decrease of 0.32%.
| TOP 10 Chains by TVL
| Top 10 Projects by Latest TVL
| Top 10 Projects by the TVL Growth in the Last 24h
▶ Protocol Revenue
| Top projects by cumulative total revenue ( 24H) _Blockchains (L1)
| Top projects by cumulative total revenue ( 24H) _Dapps (L2)
DEEP DIVE
▪ Assessing the Impact of FTX Meltdown in the Dapp Industry
▪ 5 Reasons This Could Be The Crypto Bottom
▪ Multiplayer crypto with Party Protocol
▪ 5 Bankruptcy Concepts You Need to Know
▪ Ultimate Guide to Undercollateralized Lending in DeFi
REPORT
▪ State of Decentral Games Q3 2022 _messari
- ICE token inflation continued its acceleration in Q3, with supply up 62% QoQ.
- Revenue from wearables in Q3 totaled $746,000, while wearable interactions fell by 45% QoQ.
- The platform averaged 4,118 daily active users during the quarter.
- On September 28th DG launched ICE Poker Flex, the mobile app that brings ICE Poker to web browsers, tablets, and smartphones.
- DG introduced ICE Poker Sit-n-Go (SNG) tournament mode, offering larger prizes that differ from normal ICE challenge rewards and is deflationary to the ICE token.
- Delegation V2, a substantial change to the delegation system that shifts incentives in favor of player ownership, was implemented in an effort to develop a sustainable in-game economy.
▪ Flashbots Company Intelligence _theblockresearch
▪ Searching for Alpha: Nifty Apes and Double Protocol _theblockresearch
▪ Analyzing the FTX Hack _messari
About:
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The information presented should be considered developing news and not investment advice.
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