Alameda Research, Sam Bankman-Fried’s buying and selling company, held $14.6 billion of sources as of June 30, in line with a non-public file reviewed by CoinDesk.

One of the best asset on the firm’s balance sheet is “unlocked FTT” – the native token of FTX, Bankman-Fried’s crypto trade. CoinDesk reported that Alameda holds $3.66 billion of unlocked FTT and $2.16 billion of FTT collateral.

Alameda holds one other $3.37 billion in crypto sources, with $292 million in Solana’s token, SOL, and $863 million in “locked SOL”. Additionally, it holds $134 million in money and $2 billion in corporate shares.

The makeup of Alameda’s balance sheet became torn apart by the crypto team. “It’s appealing to stare that just about all of the gain equity within the Alameda trade is truly FTX’s possess centrally controlled and printed-out-of-thin-air token,” acknowledged Cory Klippsten, CEO of investment platform Swan Bitcoin.

Dylan LeClair, a Bitcoin analyst, acknowledged that Alameda would possibly possibly be in monetary disaster if its liabilities were denominated in US dollars, then but again it would possibly possibly be higher if the loans were denominated in crypto sources.

LeClair became focused on that Alameda’s holdings of FTT a long way exceed the total most up-to-date market capitalization of the FTT in public circulation. “ninety nine%+ of token is held by prime 1% of addresses, of which doubtlessly the most appealing holder is a hedge fund, Alameda Research, [whose] VC arm just lately merged with FTX,” he wrote.

Twitter person “degentrading” became furthermore concerned. “Especially attributable to they borrow crypto with FTT. The lenders are doubtlessly going to bag f*cked on their mining publicity. If they name of their loans to restore liquidity, Alameda will be hit by that.”