Alameda Founder Sentenced, Igniting Hopes for SOL Price Surge

The founder of Alameda has received a prison sentence, and users of FTX are set to collect $11 billion in payouts: could this impact SOL’s price positively?

The cryptocurrency community is buzzing as we approach the close of 2024. Market researcher MartyParty notably accentuated this trend, referencing corroborated information from FTX clients regarding their genuine intentions to withdraw funds. His comments were sparked by a post on X (formerly Twitter), where a user shared their insights into FTX’s ongoing bankruptcy proceedings.

This has led many to anticipate a rise in the value of Solana (SOL) in the coming weeks. Additionally, numerous investors are showing interest in DTX Exchange (DTX), which has the capacity to significantly boost their investments.

What led to the FTX collapse?

In 2022, FTX encountered severe difficulties. The firm had been riskily diverting its clients’ funds to Alameda Research, a company managed by SBF and his associates. When Alameda faced substantial losses from poor investments, FTX was unable to return user funds when asked.

As news of FTX’s financial turmoil spread, numerous clients sought to withdraw their accounts, but FTX lacked the necessary liquidity to fulfill these requests. This resulted in the company’s downfall. In November 2022, SBF had no choice but to file for bankruptcy, admitting FTX’s inability to settle its obligations and seeking court assistance.

Caroline Ellison, former Alameda CEO, sentenced to two years in prison

Caroline Ellison, former CEO of Alameda Research, was sentenced to two years imprisonment for her role in a large-scale fraud that led to the downfall of the cryptocurrency exchange. Ellison confessed to helping embezzle billions of dollars from clients. Sam Bankman-Fried was the co-founder of Alameda Research, a company closely linked to FTX.

At her sentencing, she expressed remorse and requested a lighter sentence, admitting to her shame for the harm caused. Prosecutors acknowledged her cooperation in the case against her former partner, Sam Bankman-Fried, who received a much harsher sentence of 25 years. Nonetheless, the judge concluded that some incarceration was necessary.

Solana whale exerts selling pressure by unstaking SOL

A Solana whale recently unstaked a significant amount of coins and transferred them to Binance. The transaction involved 200K Solana, valued at $29.8 million, leading to a deposit on Binance. These assets were accumulated over the past three days. The whale’s account was established in August 2023 and had been mostly inactive since. A series of transactions occurred in June and July, followed by another set at the end of September.

The whale’s trademark move includes withdrawing nearly $100,000 in Solana, less costs, and transferring the funds to Binance. The wallet primarily functions to store and relay unstaked Solana tokens.

There are only 217 Solana wallets of this size participating in Solana staking, representing nearly 13% of staked Solana. The same whale once contributed to a price drop from $170 to $129 by unstaking $178 million worth of Solana in July.

DTX Exchange surpasses $2.8 million in presale, drawing more investors

DTX Exchange seeks to enhance financial inclusion by providing unbanked individuals access to financial markets through transparent ledger technology. According to their whitepaper, DTX Exchange (DTX) aims to “allow every individual to engage in the digital economy.” In recent weeks, whales have been investing in the DTX Exchange at an accelerated rate.

This cryptocurrency ICO has garnered over $2.8 million in funding. The surge in interest for DTX Exchange can be attributed to its comprehensive trading platform, which meets the needs of various traders. Whales believe that the DTX token, currently priced at $0.06, could potentially reach $1, which explains the growing enthusiasm surrounding the project.

To find out more, visit the presale website, check out the DTX website, and join the DTX community.