ahmedsajid.eth https://paragraph.com/@ahmedsajid undefined Fri, 15 May 2026 06:46:35 GMT https://validator.w3.org/feed/docs/rss2.html https://github.com/jpmonette/feed en All rights reserved <![CDATA[Nearly $1 billion of solana is set to be unstaked in 24 hours]]> https://paragraph.com/@ahmedsajid/nearly-1-billion-of-solana-is-set-to-be-unstaked-in-24-hours 94FUFff3OixZ07tg5Uzz Thu, 10 Nov 2022 12:34:44 GMT

  • Solana (SOL) worth nearly $1 billion will be available to be unlocked on Wednesday.

  • This represents 13% of the coin’s circulating supply.

  • This will be the second-largest token unlock of solana in terms of the number of coins being unstaked by validators.

    Solana validators are scheduled to unlock 49.6 million SOL ($945 million) when the current epoch ends in less than 24 hours time. Representing 13% of the coin's supply, it's the second-largest volume of tokens to be unlocked in any Solana epoch and it is coming amid a time of considerable tumult in the crypto market.

    An epoch refers to a number of slots (like blocks) on the chain and takes around two to three days. Data from Solana Compass shows that Epoch 370, the current Solana network epoch, is set to end at around 8.30 AM UTC on Nov. 10. Solana epochs refer to a time period, usually two days, when validators lock in their stake on the network. Validators can choose to unlock their stake at the end of each epoch.

    The website's dashboard currently shows over 47 million sol tokens scheduled to be unlocked by validators. This number has increased from 18 million in the space of a few hours. The increase likely indicates that more validators are choosing to remove their staked tokens from the network.

    In contrast, only 1.8 million sol ($36 million) is scheduled to be staked at the end of the current epoch.

    • The tokens scheduled for removal from the Solana stake represents 13% of the coin's total supply. Solana's token price is currently down 30% from $23 to $19 in the last 24-hour trading period. It remains to be seen what impact the token unlocks will have on the sol price action.

    Solana’s current downward slide is part of a larger market selloff triggered by the FTX collapse. Bitcoin is currently down to its lowest price in two years with ether dropping 20% from $1,425 to $1,188 in the last 24 hours. The total crypto market capitalization has also slipped below the $1 trillion mark and is currently at $901 billion

    ]]>     ahmedsajid@newsletter.paragraph.com (ahmedsajid.eth)     <![CDATA[FTX Faces US Justice Department Probe: WSJ]]> https://paragraph.com/@ahmedsajid/ftx-faces-us-justice-department-probe-wsj LqtZFPB6681V1ESjB5dR Thu, 10 Nov 2022 12:21:11 GMT FTX already faced other state and federal investigations.

    The U.S. Department of Justice is looking into crypto exchange FTX after its apparent collapse, The Wall Street Journal reported Wednesday.

    FTX was already facing probes from state and federal regulators, but these investigations have taken on a new interest following revelations that the company had a liquidity issue. Fellow crypto exchange Binance briefly agreed to acquire the company, but walked away from the deal on Wednesday. Shortly thereafter, Bankman-Fried reportedly told investors that FTX needed $8 billion to continue operating, or would risk having to file for bankruptcy.

    State regulators were previously looking into FTX and whether it allowed U.S. customers to trade derivatives products without either FTX or FTX.US, its U.S. entity, registering with federal regulators.

    The U.S. Securities and Exchange Commission and Commodity Futures Trading Commission are also investigating whether FTX had correctly handled its clients' funds, Bloomberg reported earlier Wednesday.

    Binance announced Tuesday it would acquire FTX, but said Wednesday that it would not, citing concerns about FTX's books, which is an issue investigators may look into.

    "The issues are beyond our control or ability to help," Binance said in a statement Wednesday. The statement also cited news reports about "mishandled customer funds and alleged US agency investigations" as reasons for pulling out of the deal.

    Sam Bankman-Fried, FTX's founder and CEO, had also previously tweeted that his company "is fine," as were its assets. The assertion was undercut a day later when Bankman-Fried and Binance CEO Changpeng Zhao announced Binance had signed a non-binding letter of intent to acquire the company.

    A Justice Department spokesperson declined to comment.

    ]]>     ahmedsajid@newsletter.paragraph.com (ahmedsajid.eth)     <![CDATA[FTX used $4 billion including customer funds to keep Alameda afloat: Reuters]]> https://paragraph.com/@ahmedsajid/ftx-used-4-billion-including-customer-funds-to-keep-alameda-afloat-reuters Ig6fe1XdGW9V7ytwqnrl Thu, 10 Nov 2022 12:17:11 GMT

  • FTX founder Sam Bankman-Fried transferred at least $4 billion to prop up sister company Alameda Research, according to Reuters.

  • He didn’t inform other executives about the transfer of funds to Alameda for fear of leaks, Reuters said

    FTX chief Sam Bankman-Fried transferred at least $4 billion in FTX funds to Alameda Research, including native token FTT and shares in Robinhood, according to Reuters.

    The transfers were made after Alameda, Bankman-Fried's trading firm, suffered losses from deals in May and June, including a loan agreement with Voyager Digital, Reuters said, citing people close to the subject. These funds included customer deposits, according to the report.

    Bankman-Fried didn't inform other FTX executives about the transfer of funds to Alameda because he was afraid of leaks, Reuters said.

    Crypto exchange FTX has suffered a spectacular fall from grace this week after Changpeng Zhao, the CEO of larger rival Binance, said he would begin selling off holdings of  FTX's exchange token, FTT. After seeing a flood of client withdrawals, FTX announced on Tuesday it would sell its non-U.S. assets to Binance. That deal then fell apart on Wednesday after Binance walked away.

    After all this, FTX is once again looking to raise money, according to a Slack message shared by Bankman-Fried to his staff on Thursday seen by The Block.

    Reuters also gave details on the two exchanges' past financial dealings. In 2019, Zhao bought a 20% stake in FTX for about $100 million. After their relationship soured, Bankman-Fried bought back the stake for about $2 billion in July 2021, according to the report.  

    Spokespersons for FTX and Binance didn't immediately respond to requests for comment from The Block. Reuters said the exchanges didn't respond to its requests for comment.


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