Alameda Research Saga Affects Crypto Markets

The crypto winter has resulted in major liquidity crisis for some major firms and now the crypto community is bracing itself as giants FTX and Alameda are facing potentially their own liquidity crisis and insolvency.

Sam Bankman Fried is the second richest crypto billionaire as founder of both FTX andAlameda. Reports show that $14.6 billion assets owned by Alameda on June 30th, unlocked FTT tokens accounted for the single largest $3.66 billion.
As a result, the Binance CEO Changpeng Zhou CZ announced that his firm will liquidate all its FTX token holdings, $584 million worth of tokens have already been transferred to Binance exchange.

CZ claims that he wants to reduce the impact on the market due to liquidations however Ran Neuner CNBC crypto trader believes he may be holding the tokens to cause maximum damage to FTX and Alameda.