FTX Token: The balance of assets belonging to HodlersIntoTheBlock
Description
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The fall of FTX will go down in history as something similar to the crash of 2008. On Friday, 11/11/2022, a court-supervised reorganization was requested, the first step towards filing for bankruptcy.
In this chart, we can see the balance of assets belonging to the hodlers of the FTT token, used on the FTX exchange. Surreptitiously, on September 26, someone with inside information already knew the boat was going to sink. And these managed to get a lifeboat before everyone else...
This can be proven by comparing the same type of chart in other cryptocurrencies, where nothing absurdly out of the ordinary is noticed:
BTC
ETH
AAVE
ADA
BUSD (Binance)
COINEX
Curve
dYDX
GUSD (Gemini)
HT (Huobi)
HUSD (Huobi)
KCS (Kucooin)
CRO
Polygon
Magic Internet Money
OKB (OKX)
QuickSwap (Polygon)
USDC
USDT
------------------------- Another indicator that demonstrates the problem to come is the Volume of transactions with a value of $100,000 or greater in USD. On FTX’s FTT token, there was a strangely unusual volume, ahead of other cryptocurrencies:
FTT
BTC
ETH
USDC (note that high volume happened just days later, in the desperation of multiple withdrawals and moves)
------------------------- The Amount of asset held by Whales is another indicator that I bring here to compare some exchanges, but not all of them are available.
FTT (FTX)
BUSD (Binance) (this information does not exist for BNB)