Were the signs of FTX_official ‘s collapse always there? NgmiShrimp, a research analyst nansen_ai, details the firm’s latest report and what blockchain data reveals about the beleaguered exchange. _franvela reports
“We could see that something’s going on, that they’re closely connected, that there are sufficient flows,” Polk said, referring to Nansen’s latest, which takes a deeper look at what may have been happening between the corporate siblings. “But since FTX is a centralized entity, you can’t really see what’s happening inside [and] you can’t really know how much money should be there.”What was evident, said Polk, was that coins were flowing between wallets.
What Nansen suspects is the people responsible for the wallets may have been moving tokens between the two, making the interaction between the two supposedly separate companies closer than any two companies should ever be, according to Polk., there were still some wallets, holding around $10.7 million worth of FTT tokens, according to Nansen, that remain in limbo.
According to the firm’s report, whether FTX issued a loan to Alameda is “not directly visible on-chain” because of FTX’s centralized structure. However, Nansen implies that theof FTT tokens Alameda deposited to FTX may have been used as a way to repay loans issued by FTX. FTX and Alameda’s checkered synergy is “one of the big reasons why we have blockchains,” Polk said, adding that on-chain data is a way to provide “transparent” information to all users.
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