FTX and Alameda Suffer Significant Losses on Drift Token Sale

The recent sale of 6.94 million DRIFT tokens by FTX and Alameda Research marks a significant event in the aftermath of the $285 million hack on the Drift protocol.

The sale, facilitated through Wintermute, a cryptocurrency market maker, represents a staggering loss of approximately $95% from the initial acquisition price of $6.22 million.

The liquidation of assets by FTX and Alameda Research is part of the ongoing process to settle creditor claims and distribute funds.