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Coinbase’s director, Conor Grogan, has uncovered blockchain data that sheds light on substantial USDT minting activities orchestrated by Sam Bankman-Fried’s Alameda Research in 2021. The data from the blockchain, as analyzed by Coinbase’s director, Conor Grogan, reveals that Alameda Research redeemed over $38 billion worth of Tether (USDT) tokens in 2021, even though their assets under management did not appear to justify such massive redemptions. Grogan’s findings indicate that the creation of USDT tokens surpassed the total assets held by Alameda Research at the peak of the cryptocurrency market’s bull run in 2021. Grogan also posits that the USDT redemptions, which were seemingly orchestrated by FTX, were likely associated with Alameda’s tokens, totaling a staggering 3.9 billion USDT. A significant portion of this redemption activity occurred during the collapse of Terra’s algorithmic stablecoin. In January 2021, former co-CEO of Alameda, Sam Trabucco, chimed in on the reports o

According to a new earning report from automotive manufacturer Tesla, the company did not sell any of its BTC holdings in the fourth quarter of 2022. Amid speculations that the company had traded BTC during the testing bears, CEO Elon Musk revealed it was yet holding on to its BTC stash. Tesla Maintains Holdings After Initial Sell-Off In Q2 of 2022, Tesla opted to sell 75% of all its BTC. The car manufacturer received close to $950M in ex change . Notably, the sale marked an actual departure from the company’s usual practices when it came to its holdings of the premier cryptocurrency. Until the Q2 sale, Tesla had made little change s to its store of king-crypto Bitcoin since early 2021. Back then, the electric car maker added $1.5 billion worth of BTC to its portfolio. This amounted to a total of 43,200 Bitcoins. Elon Musk said at the time:  We are certainly open to increasing our bitcoin holdings in the future, so this should not be taken as some verdict on bitcoin,” Musk cl

CEO Changpeng Zhao—aka CZ—took to Twitter to recently reveal that his crypto exchange was liquidating its FTT holdings, the native token of exchange FTX. Via a thread, the CEO of the largest crypto exchange revealed, that as part of Binance’s exit from FTX equity last year, it received roughly $2.1 billion equivalent in cash [BUSD and FTT]. He attributed the the latest decision to sell to “recent revelations.” “Due to recent revelations that have came to light, we have decided to liquidate any remaining FTT on our books.” The executive further pointed out that his entity learned its lesson on “post-exit risk management” well from LUNA. He stressed that the exchange “won’t pretend to make love after divorce.” Zhao, however, clarified that Binance was “not against” anyone, but at the same time, “won’t support people who lobby against other industry players behind their backs.” JUST IN: #Binance CEO says the company will liquidate its $500 million FTX position because they &qu