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Nansen’s astute analysts recently unearthed “unusual transactions between FTX and Alameda” in the days preceding FTX’s tumultuous financial downfall. Blockchain data experts from Nansen have delved deep into the events leading up to the catastrophic demise of FTX. This includes the transfer of a staggering $4.1 billion worth of FTT tokens between the exchange and Alameda Research. A comprehensive report from Nansen, shared exclusively with Cointelegraph, unveils an array of remarkable findings from the blockchain analytics firm. It sheds light on the remarkably close-knit relationship between these two entities, both founded by the enigmatic Sam Bankman-Fried, who currently faces a slew of charges linked to the cataclysmic collapse of FTX. The precipitous fall of FTX is widely attributed to initial reports that sounded the alarm regarding Alameda’s hefty 40% stake, totaling $14.6 billion, in FTT tokens as of September 2022. Nansen’s perceptive analyst...

Join Our Telegram channel to stay up to date on breaking news coverage Abu Dhabi’s tech ecosystem, known as Hub71, recently proved its dedication to the crypto sector and pursuit of a decentralized future. Hub71 announced that it had started a $2 billion initiative that intends t back blockchain and Web3 startup s in the region. The move has the goal of supporting existing startups, as well as attracting new companies to the region, which will further strengthen Abu Dhabi as one of the biggest crypto hubs in the world. Details of the new initiative The initiative is known as the Hub71+ Digital Assets ecosystem initiative, and apart from the funding, it will also offer startups access to a wide range of programs. Apart from that, emerging Web3 companies will have a unique opportunity to connect with multiple corporate, government, and investment partners. Hub71 has launched the Hub71+ Digital Assets specialist ecosystem in Abu Dhabi Global Market with AED7billion of f...