Alameda Research Suddenly gets dark at crypto trades, says the source

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According to a source familiar with the matter, the competitive crypto-own trade and risk capital company Alameda Research has become dark and has hired the trade with at least one regular counterpart.

once flying traders at Alameda, owned by FTX CEO Sam Bankman-Fried, spent most of the Tuesday to reduce a number of positions to solve the increasing liquidity problems that were suddenly exacerbated by the market turbulence in connection with Binances to take the takeover of FTX. This deal has now failed.

Alameda has meanwhile switched off his website, what now means , "This website is currently private." And there is an expectation of an impending restructuring of the leadership, said a second source - after the change of managers at the beginning of this year.

"The big crypto reset is there," said the source. "Dark days are imminent."

The source classified the fast step of Alameda as "extremely unusual" and pointed out that the retail company still has many open positions in its balance sheet. On Wednesday morning in New York, the asset manager hired the trade with a - and probably two - trading partners after he had stood in almost constant communication with his objects yesterday, according to the source.

A spokesman for Alameda rejected a statement. The source was granted anonymity to discuss sensitive business relationships.

"Yesterday you were incredibly committed sellers on the market," said the source. "They had to be. It is unusual for them [out of Nowhere] to answer me. It's great, super rare."

What led to the unexpected trade stop is not clear.

possible explanations are:

  • an instruction of the management to wait for the calming of the markets when you consider that both Alameda and FTX were affected by the drop in the local tokens of the stock exchange, FTT.
  • A wait-and-see attitude to the result of the Bony takeover of FTX, which has now been clarified. Binance braked the outstanding purchase, reported block works.
  • Among capital-based industry participants-including Tradfi players-talked that Alameda's insolvency problems are deeper than previously reported, which indicates that a purchase of the company in vulture style could be possible. According to a second source, institutional asset managers asked whether they could buy the company's cryptoassets at bargain prices and also brought the idea of ​​a complete takeover.

The contribution Alameda Research "Goes Dark" on Crypto Trades, Source Says is not a financial advice.