{"id":465581,"date":"2022-06-20T08:53:18","date_gmt":"2022-06-20T05:53:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sbf-and-alameda-step-in-to-prevent-crypto-collapse-contagion\/"},"modified":"2022-06-20T08:53:18","modified_gmt":"2022-06-20T05:53:18","slug":"sbf-and-alameda-step-in-to-prevent-crypto-collapse-contagion","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sbf-and-alameda-step-in-to-prevent-crypto-collapse-contagion\/","title":{"rendered":"# SBF and Alameda step in to prevent crypto collapse contagion"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a339b614c241\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a339b614c241\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/sbf-and-alameda-step-in-to-prevent-crypto-collapse-contagion\/#%E2%80%9D_SBF_and_Alameda_step_in_to_prevent_crypto_collapse_contagion_%E2%80%9C\" >&#8221; SBF and Alameda step in to prevent crypto collapse contagion   &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_SBF_and_Alameda_step_in_to_prevent_crypto_collapse_contagion_%E2%80%9C\"><\/span>&#8221; SBF and Alameda step in to prevent crypto collapse contagion   &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvMTAxZTQ3NWUtNTE4Ny00MjA5LTk1Y2EtZWY3MjFiYmU2YmFkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Sam Bankman-Fried\u2019s (SBF) Alameda Research is \u201cstepping in\u201d to prevent further contagion across the crypto sector during the current bear market. <\/p>\n<p>Numerous crypto companies are facing liquidity issues (of varying severity) as a result of the strong market downturn throughout 2022. Major firms such as Celsius and Three Arrows Capital (3AC) are both reportedly on the brink of insolvency and could potentially bring others down with them if they were to collapse. <\/p>\n<p>During an interview with NPR on Sunday, SBF <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.npr.org\/2022\/06\/19\/1105853170\/crypto-billionaire-says-fed-is-driving-current-downturn\">stated<\/a> that given the stature of his companies, Alameda and FTX, he believes they \u201chave a responsibility to seriously consider stepping in, even if it is at a loss to ourselves, to stem contagion:\u201d <\/p>\n<blockquote><p>\u201cEven if we weren\u2019t the ones who caused it, or weren\u2019t involved in it. I think that\u2019s what\u2019s healthy for the ecosystem, and I want to do what can help it grow and thrive.\u201d<\/p><\/blockquote>\n<p>SBF added that his companies have done this \u201ca number of times in the past,\u201d as he pointed to FTX providing Japanese crypto exchange Liquid with $120 million in financing last year after it was $100 million in August. Notably, FTX announced plans to acquire Liquid shortly after providing it with funding, and the deal reportedly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blog.liquid.com\/acquisition-liquid-ftx\">closed<\/a> in March this year. <\/p>\n<p>\u201cWe, I think about 24 hours later, stepped in and gave them a pretty broad line of credit to be able to cover all of their demands, to make sure customers were made whole while thinking about the longer-term solution,\u201d he said. <\/p>\n<p>Most recently, however, crypto brokerage Voyager Digital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.investvoyager.com\/pressreleases\/voyager-digital-signs-term-sheet-for-ususd200-million-and-15-000-btc-revolving-line-of-credit-with-alameda-research\">announced<\/a> on Saturday that Alameda had agreed to give the company a 200 million USD Coin (USDC) loan and a \u201crevolving line of credit\u201d of 15,000 Bitcoin (BTC) worth $298.9 million at current prices. <\/p>\n<p>Voyager Digital noted that its credit facilities offered by Alameda will each expire on December 31, 2024, and have an annual interest rate of 5% payable on maturity. The firm stated it will only use the credit lines \u201cif needed to safeguard customer assets\u201d amid severe market volatility. <\/p>\n<p>\u201cThe proceeds of the credit facility are intended to be used to safeguard customer assets in light of current market volatility and only if such use is needed,\u201d the firm stated. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Celsius recovery plan proposed amid community-led short-squeeze attempt<\/em><\/strong><\/p>\n<p>While SBF has outlined good intentions to help suffering crypto companies, contradictory rumors surfaced this month that Alameda played a part in the recent instability of Celsius. <\/p>\n<p>Analysts such as PlanC\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheRealPlanC\/status\/1537483536608935936\">suggested<\/a> to their 145,300 followers on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> last week that Alameda conducted a 50,000 staked Ether (stETH) sell-off earlier this month in a bid to\u00a0depeg its price from Ether (ETH) and jeopardize a large stETH position held by Celsius, as it would stop the company from exchanging the asset for the equivalent amount of ETH. <\/p>\n<p>After the rumors would put forward to SBF via Twitter on Monday, they completely rejected the claims, noting that: <\/p>\n<blockquote><p>\u201clol this is definitely false. We want to help those we can in the ecosystem, and have no interest in hurting them &#8212; that just hurts us and the whole ecosystem.\u201d<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">lol this is definitely false<\/p>\n<p>we want to help those we can in the ecosystem, and have no interest in hurting them &#8212; that just hurts us and the whole ecosystem<\/p>\n<p>\u2014 SBF (@SBF_FTX) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1538679493405069313?ref_src=twsrc%5Etfw\">June 20, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/sbf-and-alameda-step-in-to-prevent-crypto-collapse-contagion\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; SBF and Alameda step in to prevent crypto collapse contagion &#8220; Sam Bankman-Fried\u2019s (SBF) Alameda Research is \u201cstepping in\u201d to prevent further contagion across the crypto sector during the current bear market. Numerous crypto companies are facing liquidity issues (of varying severity) as a result of the strong market downturn throughout 2022. Major firms&#8230;<\/p>\n","protected":false},"author":1,"featured_media":465582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvMTAxZTQ3NWUtNTE4Ny00MjA5LTk1Y2EtZWY3MjFiYmU2YmFkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,107545,89897,117],"class_list":["post-465581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-liquidity","tag-sam-bankman-fried","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/465581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=465581"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/465581\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/465582"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=465581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=465581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=465581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}