According to the Crypto Analysis Portal Kaiko, the combined accounts of FTX, FTX US and its affiliate trading company, Alameda Research, still hold $3.3 billion in various crypto assets. Among them is XRP, whose collapsed crypto empire has up to $29 million worth of tokens.
A slide of an FTX bankruptcy filing was leaked earlier this week, where FTX listed its “liquid” assets
Let’s take a closer look to see if creditors can expect value when assets are liquidated ⬇️
— Kaiko (@KaikoData) January 20, 2023
Despite the fact that anything related to FTX has been deemed toxic for the past couple of months, XRP holders need not worry about this blocked volume. According to Kaiko, even if these accounts are liquidated, which means that the assets are thrown on the market, the XRP Price won’t feel any pressure. This is due to the liquidity of XRP, which is said to be the fourth best in the entire crypto market.
While XRP’s market depth provides the token with some sort of cushion, the same cannot be said for GROUND, APT, TON and FTT. According to Kaiko, these crypto assets are likely to suffer the most in the event of a potential liquidation of the trio’s accounts.
While the combined value of SOL and FTT amounting to over $1.2 billion has given rise to such thoughts, with Toncoin (TON) and Aptos (APT), things are a little more sophisticated. So, if the data is to be believed, with the combined value of the APT and TON positions at $98 million, the bidding volume for both on centralized exchanges does not exceed $4.5 million.