Altcoin Developers With 20 Million Tokens In Alameda Wallet Announced! Is Sales Expected?

world’s largest cryptocurrencies Klaytn (KLAY) altcoin developer team, which is ranked 69th in the list according to CoinMarketCap data, shared a blog post about the recent FTX crash and its impact on their ecosystem.

Klay Altcoin Team: “Slightly Affected by the Alameda Crash”

The developers said in the article they shared:

“Last week, FTX and its affiliates filed for Chapter 11, and the resulting results are currently causing a number of industry issues, including weakening community sentiment, market volatility and liquidity tightness, and will likely lead to higher levels of regulatory scrutiny.

The impact of these events is far-reaching, affecting not only the Web3 space, but also TradFi organizations.

The Klaytn team is closely monitoring the situation in real time and will approach all future initiatives strategically as we expect the spread of events to continue.”

The altcoin dev team also explained whether the FTX collapse had an impact on their ecosystem:

“The Klaytn team can safely share that the FTX/Alameda bankruptcy has had little or no direct impact on the Klaytn ecosystem.

Regardless, the Klaytn team is and will continue to proactively take action to identify and address potential risk points in a timely and transparent manner.

Upon hearing of the bankruptcy, the Klaytn team immediately took action to work with the Governing Council to remove Alameda from membership on November 12.

It has been determined that Alameda is no longer in a position to fulfill its obligations as a member of the Klaytn Governing Council in accordance with Core Cell Operator (CCO) guidelines. This includes, but is not limited to, operating the company’s Consensus Node (CN).

Klaytn (KLAY) Team Talks About 20 Million KLAY Tokens Remaining in Alameda’s Wallet

The Klaytn altcoin team stated that the 20 million KLAY tokens they sent as part of a deal are in Alameda’s wallets. The developer team had this to say about these tokens:

“The Klaytn Team tried to reach Alameda for clarification but received no response and as of now we do not believe the KLAY tokens in Alameda’s wallet will be moved or sold in the market anytime soon.

We will continue to monitor Alameda’s wallets and cooperate fully with FTX’s bankruptcy proceedings as needed. If the time comes for Alameda’s KLAY assets to be liquidated, the Klaytn team will work closely with liquidators to ensure that any potential impacts on the market or ecosystem are minimised.”

Additionally, the Klaytn team noted that no suspicious activity or transaction has been detected in any of Alameda’s Klaytn wallets.

*Not investment advice.