Alameda Research Private Sales Partner in Covalent 2023 Unlocked

Almeida Research Covelent ($CQT) was one of seven recipients of 21,941,176 ($2.5 million) tokens in the latter’s recent unlocking, according to Twitter’s financial markets analyst lukochain.

First unlock of 2023

Seven private sale participants, according to Lukochain cqt Earned from the first unlock in 2023.

Addresses include Mechanism Capital, Spark Digital Capital, Woodstock, Alameda Research, Hypersphere Ventures and Laserprime. Unlocked after showing a bullish trend in CQT in the past few days.

According to Coinmarketcap, CQT has increased by 2.89% in the last 24 hours.

co-coordinator’s private sale participant

Mechanism Capital received 69 million cqt worth $7.9 million in August 2021 and 9.6 million worth $8.3 million transferred to FTX in August 2021. One cqt was equal to $0.86. Currently, Tantra Capital holds 59.6 million cqts valued at USD 6.76 million.

Spark Digital Capital received 588,236 CQT valued at $67,300 and sold 27,060 CQT valued at $37,495 in August 2021 at $1.39.

Web 3.0 investment firm Woodstock received 15.4 million CQT and transferred the entire amount to KuCoin. The average selling price of a CQT is estimated at $0.79, meaning Woodstock would receive the equivalent of approximately $12 million.

Alameda Research OKX and FTX received 15.2 million CQT, transferring 9.4 million coins at an average price of $0.52.

Hypersphere Ventures received 1.47 million CQT and transferred the entire amount to OKX and KuCoin at an average of $0.43. While LedgerPrime received 588,236 CQT and transferred the amount to FTX at an average of $0.78. Lac Davis was the only individual who obtained 117,648 cqts and sold them for an average of $0.57, fetching approximately $66,656.

Cooperative relationship with Alameda Research and FXT

The collapse of FTX exposed the exchange’s relationship with Alameda Research, which had participated in the private sale with Covalent.

Negotiations with Alameda Research required Covalent to clarify its relationship with FTX, which was filing for bankruptcy. In a statement released by Covelent, the network denied Relationship with FTX, FTT and Alameda Research,

The startup indicated that Alameda Research was one of the market makers in June 2021, with the relationship lasting until June 2022. All CQTs related to marketing were returned, and the connection was terminated. The company further indicated that it had no other business with Alameda Research or FTX.

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