FTX is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. We strive to develop a platform robust enough for professional trading firms and intuitive enough for first-time users [1].

Alameda Research is a leading principal trading firm, working as a quantitative cryptocurrency trading firm that provides liquidity in cryptocurrency and digital assets markets [2].

The Alameda Research have tried to buy the FTT tokens available on Binance but Binance CEO Changpeng Zhao (CZ) isn’t interested in selling his company’s FTX Tokens in an OTC deal with Alameda [3]. 

The intention of this dashboard is to analyze what Alameda is experiencing. Rumors over the weekend began swirling that Alameda Research is on the brink of insolvency.

\n Thus, we are gonna analyze the net inflows and outflows of USD ERC20 tokens and stablecoins separately from known Alameda or FTX accounts throughout different Ethereum labels.

• Inflows and outflows over the past week
• Netflow and cumulative netflow over the past week
• Token netflow
• Inflows, outflows and netflow by token

ERC20 tokens analysis

If we take a look specifically at the cumulative netflow over the past week by stablecoins, we can see that the major movements on Ethereum have been for BUSD, USDC and USDT.

In the case of USDT, the netflow has been positive, being deposited around 650M and removed less than 400M. In contrast, the USDC and BUSD volumes have been negative, being removed 100M in USDC and 86M in BUSD.

For the rest of stablecoins (DAI and TUSD) the volumes were lower. In the case of DAI, similar values were sent in and out, while for TUSD more volume has been removed, reaching a negative netflow of 33M.

Finally, taking into account both, the platform and the stablecoin, we can see how the while the major of the platforms registered similar distribution of tokens in and out, in the case of the Binance and Coinbase the numbers were different.

In the case of Binance, more USDT were deposited than removed while USDC and BUSD have been clearly removed. On the other hand, on Coinbase, more USDC and USDT were deposited than removed but in terms of volume sent out, a higher difference has been observed between these two stablecoins, having USDC higher volume in comparison to USDT.

In the image on the right side, it can be clearly seen how the major of the volume have been sent out from Binance.

Stablecoins analysis

ERC-20 tokens:

• The inflows and outflows on Ethereum chain are higher in the second part rather than in the first one, saying as that there are more volume going out than in for Alameda/FTX. The primary exchanges used are Binance, Gate.io and Coinbase.
• The most important day was the November 7th, when almost 40M USD in ERC20 tokens were sent out from Binance. The rest of the platforms registered negative volumes as well. Apart from that day, the major of the other November days have been negative.
• The cumulative netflow since the start of this month has been negative on Binance, Kraken, Okex and Gate.io while positive on Kucoin, while for the rest has been practically equal.
• Then, it seems that Alameda/FTX movements have been practically from Binance.
• If we take a look specifically at the cumulative netflow over the past week by ERC20 tokens, we can see that the major movements on Ethereum have been from Binance. In Binance, we can see how the major token deposited has been FTX, while WBTC, LINK or APE have been one of the most affected tokens there.

Stablecoins:

• The inflows and outflows on Ethereum chain are higher in the second part rather than in the first one, saying as that there are more volume going out than in for Alameda/FTX. The primary exchanges used are Binance and Coinbase.

• The most important day was the November 1st, when almost 200M in stablecoins were sent out from Binance. The rest of the platforms registered negative volumes as well. Apart from that day, the major of the other November days have been negative.

• The cumulative netflow since the start of this month has been negative on Binance, and positive on Coinbase, while for the rest has been practically equal. On Binance, around 100M in stablecoin were sent out in cumulative numbers while on Coinbase more than 100M in stablecoins were received.

• Then, it seems that Alameda/FTX movements have been practically from Binance to Coinbase.

• While the major of the platforms registered similar distribution of tokens in and out on Ethereum, in the case of the Binance and Coinbase the numbers were different.

• In the case of Binance, more USDT were deposited than removed while USDC and BUSD have been clearly removed. On the other hand, on Coinbase, more USDC and USDT were deposited than removed but in terms of volume sent out, a higher difference has been observed between these two stablecoins, having USDC higher volume in comparison to USDT.

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Overview

Methodology

Key insights

Regarding the Alameda/FTX movements on Ethereum chain, we can see how there are activities on several platforms. If we take a look at the difference between the inflows and outflows, we can see how the axes are higher in the second part rather than in the first one, saying as that there are more volume going out than in for Alameda/FTX. The primary exchanges used are Binance and Coinbase.

Regarding the netflow volume, we can see that the most important day was the November 1st, when almost 200M in stablecoins were sent out from Binance. The rest of the platforms registered negative volumes as well. Apart from that day, the major of the other November days have been negative. In fact, yesterday more than 20M in stablecoin were sent out as a netflow from Binance.

The cumulative netflow since the start of this month has been negative on Binance, and positive on Coinbase, while for the rest has been practically equal. On Binance, around 100M in stablecoin were sent out in cumulative numbers while on Coinbase more than 100M in stablecoins were received. Then, it seems that Alameda/FTX movements have been practically from Binance to Coinbase.

Regarding the Alameda/FTX movements on Ethereum chain, in case of the ERC20 tokens movements, we can see how there are activities on several platforms. If we take a look at the difference between the inflows and outflows, we can see how the axes are higher in the second part rather than in the first one, saying as that there are more volume going out than in for Alameda/FTX. The primary exchanges used are Binance, Gate.io and Coinbase.

Regarding the netflow volume, we can see that the most important day was the November 7rh, when almost 40M USD in ERC20 tokens were sent out from Binance. The rest of the platforms registered negative volumes as well. Apart from that day, the major of the other November days have been negative.

The cumulative netflow since the start of this month has been negative on Binance, as well as on Kraken, Okex and Gate.io. Kucoin registered the highest positive numbers, while for the rest has been practically equal. On Binance, around 20M in ERC20 tokens were sent out in cumulative numbers while on Kucoin less than 4M were received. Then, it seems that Alameda/FTX movements have been practically from Binance.

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If we take a look specifically at the cumulative netflow over the past week by ERC20 tokens, we can see that the major movements on Ethereum have been from Binance.

In Binance, we can see how the major token deposited has been FTX, while WBTC, LINK or APE have been one of the most affected tokens there.

On Coinbase, SYN has been the token most transferred out and in Okex OKB.