FTT is close to breaking down from its inverse-cup-and-handle pattern.
), $3.37 billion in unidentified cryptocurrency, $2 billion in"equity securities," and other assets.
On the other hand, Alameda Research reportedly had liabilities worth $8 billion, including $2.2 billion worth of loans collateralized by FTT. That, coupled with the firm's alleged exposure to illiquid altcoins, prompted some analysts to predict its insolvency in the future.Mike Burgersburg, an independent market analyst, for the Dirty Bubble Media Substack, noting:
"There are few buyers, and the largest buyer appears to be the very company which Alameda is most closely tied to [...] the fair market value of their FTT in the event of large sales would rapidly approach $0."wallets associated with Alameda Research sending nearly $66 million worth of stablecoin tokens to FTX addresses on Nov. 6, potentially to absorb the token's sell-side pressure.
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