{"id":540666,"date":"2023-01-19T00:50:00","date_gmt":"2023-01-18T21:50:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ftx-profited-from-sam-bankman-frieds-inflated-coins-report\/"},"modified":"2023-01-19T00:50:00","modified_gmt":"2023-01-18T21:50:00","slug":"ftx-profited-from-sam-bankman-frieds-inflated-coins-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ftx-profited-from-sam-bankman-frieds-inflated-coins-report\/","title":{"rendered":"# FTX profited from Sam Bankman-Fried\u2019s inflated coins: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 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-6af2a22a03b0b\" 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-6af2a22a03b0b\" 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\/ftx-profited-from-sam-bankman-frieds-inflated-coins-report\/#%E2%80%9D_FTX_profited_from_Sam_Bankman-Frieds_inflated_coins_Report_%E2%80%9C\" >&#8221; FTX profited from Sam Bankman-Fried\u2019s inflated coins: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_FTX_profited_from_Sam_Bankman-Frieds_inflated_coins_Report_%E2%80%9C\"><\/span>&#8221; FTX profited from Sam Bankman-Fried\u2019s inflated coins: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvMjJlZTFkZjAtZWMzMi00NzgzLWEwZWEtNTBjNzE0OGM4MDY0LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>Sam Bankman-Fried, the former CEO of the FTX crypto exchange, used his influence in the crypto industry to inflate some coins prices through a coordinated strategy with FTX\u2019s sister company, Alameda Research, a New York Times report <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/01\/18\/business\/ftx-sbf-crypto-markets.html?\" data-amp=\"https:\/\/www-nytimes-com.cdn.ampproject.org\/c\/s\/www.nytimes.com\/2023\/01\/18\/business\/ftx-sbf-crypto-markets.amp.html\">claimed<\/a> on Jan. 18.<\/p>\n<p>As a way to keep FTX and the companies under its umbrella profitable, Bankman-Fried allegedly <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roached developers behind projects, insisting that they make their trading debuts on the exchange\u2019s platform. Following that, the report claimed, Alameda Research would buy some of these freshly listed coins to raise their value.<\/p>\n<p>Bankman-Fried thenallegedly relied on his popularity to advertise the projects and persuade the crypto community to invest in these \u201cSamcoins.\u201d As a result, Alameda appeared to be in a stronger position than it actually was.<\/p>\n<p>The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>paper compared Bankman-Fried\u2019s strategy with a large-scale pump-and-dump scheme. A stock market operation refers to an increase in stock value by insiders in order to entice retail investors. The insiders then sell their shares and other investors are left with worthless stock.<\/p>\n<p><strong><em>Related:\u00a0\u2018There will be many more zeros\u2019 \u2014 Kevin O&#8217;Leary on FTX-like collapses to come<\/em><\/strong><\/p>\n<p>Pump-and-dump schemes are illegal, and are especially problematic when scammers use false or misleading statements to attract investors to micro and small-cap stocks. <\/p>\n<p>For developers launching a new coin, Bankman-Fried\u2019s offer was an appealing option, as they could benefit from FTX\u2019s recognition to advertise their tokens and get more attention from potential investors. Among the supposed \u201cSamcoins\u201d were Serum, Maps, Oxygen, Bonfida and Solana (SOL). <\/p>\n<p>One source interviewed by the NYT also described how Bankman-Fried would offer a select group of investors the chance to buy in coins at low prices, warning that a second opportunity would only be available at higher amounts. Those interested in the offer are alleged to have signed up through an internet spreadsheet.<\/p>\n<p>FTX\u2019s collapse kicked off on Nov. 2, after a leaked balance sheet from Alameda indicated the company\u2019s balance sheet comprised mostly of FTT (FTT), a token created by FTX, and other coins facing liquidity issues. A large trading firm holding such a large amount of one asset and Alameda\u2019s relationship with FTX raised questions in the crypto community and ultimately led to a bank run on the exchange.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/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 News 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\/ftx-profited-from-sam-bankman-fried-s-inflated-coins-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; FTX profited from Sam Bankman-Fried\u2019s inflated coins: Report &#8220; Sam Bankman-Fried, the former CEO of the FTX crypto exchange, used his influence in the crypto industry to inflate some coins prices through a coordinated strategy with FTX\u2019s sister company, Alameda Research, a New York Times report claimed on Jan. 18. As a way to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":540667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/22ee1df0-ec32-4783-a0ea-50c7148c8064.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[135234,127241,89897,4978,117],"class_list":["post-540666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ftx","tag-ftx-token","tag-sam-bankman-fried","tag-bankruptcy","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/540666","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=540666"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/540666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/540667"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=540666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=540666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=540666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}