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Alameda, FTX Ventures Websites Down Following FTX Disaster

by John Stapel

Amid the major crypto exchange FTX’s liquidity crisis, two companies closely tied to it – including Alameda Research and  FTX Ventures – appear to be inaccessible on their websites. 

  • Alameda‘s site has gone private, while FTX Ventures’ site appears to be down entirely. Both have been inaccessible since Tuesday.
  • Alameda is a trading desk launched by Sam Bankman-Fried, the CEO of FTX. The firm was found to have large exposure to FTT on its balance sheet according to a CoinDesk leak earlier this month. 
  • After Binance promised to dump 22 million FTT tokens on the market on Sunday, Alameda CEO Caroline Ellison offered to buy all of the firm’s FTT for $22 a piece. 
  • Binance CEO Chanpheng Zhao declined the offer later. At the time of writing, FTT is only $3.52. 
  • Ellison said on Sunday that the leaked balance sheet from earlier this month did not reflect all of Alameda’s assets. She has not made any public comment on the matter since that time. 
  • Meanwhile, FTX’s main site remains operational and is even accepting deposits – despite the fact that it is currently not processing withdrawals. 
  • Binance signed a non-binding agreement to purchase FTX to assist the firm in working through its “liquidity crunch” on Tuesday. 
  • However, the firm backed out of the deal just a day later after getting a better understanding of how FTX handled client funds and reports of investigations into the firm by federal regulators.
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