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As per FT: > The “dilutive ‘minting’ of approximately $300m in FTT tokens by an unauthorised source” after FTX filed for bankruptcy. That’s along with the $372
by easytiger 4y ago
As per FT:
> The “dilutive ‘minting’ of approximately $300m in FTT tokens by an unauthorised source” after FTX filed for bankruptcy. That’s along with the $372m hack.
Guessing: post ftx collapse someone minted new ftt tokens. Which should be strange because only FTX should have been able to do so.
- 55555 4y agoMaybe SBF & co minted more FTT in order to dump to increase fiat liquidity during the withdrawal phase, and then right after had to hand everything over to the Bahamas. This isn’t the timeline popularly floated, tho
- meltedcapacitor 4y agoThe mint was after withdrawals have stopped, and it does not look like they had run out of unlocked FTT. In any case there was no buyer in size, so if they had dumped all they could the meagre proceeds would have probably been enough for like an extra half hour worth of withdrawals.