Alameda Research needs to confirm that BIT tokens are safe, otherwise the BitDAO crypto community will change its FTT reserve policy. This is exactly the kind of voting that the client with the nickname cateatpeanut suggested.
Last year, in October, the Alameda Research trading team made an offer to BitDAO to convert 100 million BIT coins into 3,362,315 FTT coins. This partnership agreement was that FTT tokens should be stored in BitDAO Treasury and BIT tokens in Alameda Research. Until 11/02/2024, tokens cannot be sold. This proposal was supported unanimously by the entire community.
Сateatpeanut states that the events that have recently taken place around FTX and Alameda require special transparency of commitment to the agreement. In order to ensure the safety of the tokens, the BitDAO company demanded that the trading company transfer 100 million BIT to a public on-chain address within 24 hours. If Alameda does not provide reliable evidence, then BitDAO will make another vote in which they will decide how to deal with FTT tokens.
The BitDAO crypto community found out that Alameda sent approximately 4,600,000 BITs to FTX, which is equal to $1.6 million. But Caroline Ellison, who is the head of Alameda Research, says that there was no transfer of BIT tokens to FTX.
Caroline said that evidence would be provided, but she did not say anything about the timing, since Alameda "is busy with employees now". Due to these events, BIT quotes fell by 8%, reaching $0.36. And FTT quotes have fallen by 30% over the past few days.
