China News Official Today TheBitTimes.com

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...

This article is a summary of OKX Space, with excerpts from the editor. DCG has invested in the following major businesses: 1. Grayscale, the world’s largest bitcoin fund and the institution holding the most bitcoins. 2, Genesis, it is the world’s largest crypto lending service, its main business is also lending, but its lending is not our traditional sense of bank borrowing or credit card borrowing, its mainly through the complex collateral to provide users with token lending services. 3. Foundry, the world’s largest bitcoin mining pool. 4. CoinDesk, the world’s largest cryptocurrency media. This shows that DCG is indeed one of the largest cryptocurrency groups in the world. Back to why Genesis is in such big trouble, the logic is also very simple, the root cause is because it lent too much money to Three Arrows Capital and it has been having some unclear connections with Three Arrows Capital . Genesis lent a whopping $2.36 billion to Three Arrows Capital, with losses reaching $1.2 bil...