Sam Bankman-Fried, the former CEO and founder of fallen crypto exchange FTX, has reportedly acquired 2 million worth of Radium. However, the whitepaper states that investor tokens should be locked in for 1-3 years.
SBF Radium linked to liquidity problems
A Tweet Coinbase director Conor said that Sam Bankman-Fried’s wallet had accumulated 2 million radium before the downed exchange, listing on FTX, and announcing perpetual futures.
The deal was a tricky undertaking with the deal, he said, as the whitepaper indicated that the team’s token would be locked in for more than a year. Furthermore, SBF went ahead and sold 80k and sent 1 million $RAY to FTX on the same day.
“SBF Wallet received 2 million (15%+ of Circle supply) of Radium shortly before FTX’s listing + purps were announced. Investor/Team tokens to be locked in for 1+ year,” the whitepaper states. SBF proceeded to LP, sold 80k, and sent 1 million dollars re to FTX that day.
Conor, Coinbase Director.
According to Proof, Ray had 555,000,000 million supply, 34% of mining reserves, and 30% of the partnership and distribution ecosystem. 20% locked in for 1-3 years, Advisors (locked in for 1-3 years), Community Pool: 6% (locked in for 1 year), and Liquidity of 1%.
The SBF was also accused of allegedly siphoning off the balance Radium FEarning a few million in ETH, from the liquidity pool at the absolute top. also worked hard regulator For the protection of consumers as happened on all occasions.
In December, Radium reported the victim of a Liquidity Pool ExploitTea. $2 million in funding was reduced due to the attack. The Solana-based protocol believed that someone might have taken over the exchange’s account.
Suspicious activity broke out in the Solana network when a Radium admin account cleared a large amount of liquidity from the protocol; There were approximately 1,000 transactions that did not replace it with the required LP token.
FTX Association with Solanas in Project Serum
Twitter user @Ruhi29 commented that Almeida probably created Radium since the 80% solana DeFi was created by the Almeida or Macaliano brothers.
Connections can be traced to the FTX association with Solana in the project. serum, A group led by Solana Foundation, Bankman-FTX, Frieds and trading desk Alameda Research founded Serum in August 2020. Serum serves as the primary decentralized exchange platform and source of liquidity for the developing Solana DeFi ecosystem.
Its order book, which is integrated into almost all the most important DeFi projects on the network including Jupyter and Radium, was essential for DeFi on Solana. However, FTX was where its private keys were kept, which is as bad as it sounds.
DeFi initiatives on Solana parted ways in connection with an apparent security breach on FTX on November 11, the same day the corporation declared bankruptcy. serum, fearing that even the private critical used update of the software has been adversely affected. Solana DeFi was effectively shut down as a result.
#Sam #BankmanFried #Allegedly #Received #Million #Radium