Conor Grogan exposes a series of detrimental on-chain activities by Sam Bankman-Fried, revealing transactions that went unnoticed during his trial, shedding light on manipulative tactics that impacted the crypto space.
Among these activities, Bankman-Fried's sale of $75 million in staked ETH (CRYPTO:ETH) through Alameda Research triggered market turmoil, contributing to the collapse of major crypto entities like Celsius and Three Arrows Capital.
Beyond market manipulation, Bankman-Fried used FTX (CRYPTO:FTT)customer funds for frivolous NFT purchases, including tokens from CarolineDAO, and engaged in wash trading to falsely inflate the value of his holdings.
The manipulation extended to direct market actions, like the creation and sale of a 'test' NFT for $270,000, suspected to be bought with customer funds, and the improper sale of vested RAY tokens, highlighting a pattern of misuse and deception.
Bankman-Fried's on-chain activity paints a picture of a calculated strategy to exploit the crypto market for personal gain, from inflating SHIB (CRYPTO:SHIB) token prices and dumping SUSHI (CRYPTO:SUSHI) tokens, to manipulating FTT token liquidity, illustrating the breadth of his attempts to control market dynamics.