{"id":8587,"date":"2022-11-16T10:12:10","date_gmt":"2022-11-16T10:12:10","guid":{"rendered":"http:\/\/www.cryptoheretostay.com\/?p=8587"},"modified":"2022-11-16T10:12:12","modified_gmt":"2022-11-16T10:12:12","slug":"defi-protocol-oxygen-held-95-of-supply-on-ftx","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=8587","title":{"rendered":"DeFi protocol Oxygen held 95% of supply on FTX"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p>Solana-based decentralized prime brokerage platform Oxygen Protocol revealed on Nov. 15 that 95% of its MAPS and OXY tokens supply were held on bankrupt crypto exchange FTX.<\/p>\n<p lang=\"en\" dir=\"ltr\">1\/ The MAPS and Oxygen teams are shocked by events relating to FTX Group\u2019s bankruptcy proceedings.<\/p>\n<p>\u2014 Oxygen \u2013 Decentralized Prime Brokerage (@Oxygen_protocol) November 15, 2022<\/p>\n<p>The statement said the struggling crypto firm did not have any equity in its business, but it held a significant portion of its tokens.<\/p>\n<p>\u201c(FTX) acted as the custodian for over 95% of the overall supply of our ecosystem tokens \u2014 both locked and unlocked.\u201d<\/p>\n<p>The MAPS and Oxygen team expressed shock about the FTX bankruptcy incidents, adding that they only have access to publicly available information.<\/p>\n<p>Oxygen Protocol said it was considering all options to protect its ecosystem. The DeFi protocol said it has employed legal advisors to assist in the process.<\/p>\n<p>Meanwhile, the crypto community appears to be unsurprised by the latest revelations. Several comments suggested that Sam Bankman-Fried controlled the protocol and that he was tweeting the announcements.<\/p>\n<p lang=\"en\" dir=\"ltr\">This is your first Tweet since April 2022 stfu<\/p>\n<p>\u2014 ZachXBT (@zachxbt) November 15, 2022<\/p>\n<p>ZachXBT pointed out that this was the protocol\u2019s first tweet since April 2022.<\/p>\n<p>Maps and Oxygen protocol were projects backed by Alameda Research. In January 2021, Alameda Research led a $50 million investment round in Maps.me. It also led a $40 million investment round in Oxygen in February 2021.<\/p>\n<p>Reports revealed that MAPS and OXY accounted for a significant portion of Alameda\u2019s balance sheet.<\/p>\n<p>According to CryptoSlate data, OXY has shed 46% of its value over the last seven days, trading for $0.0202 as of press time. MAPS is also down roughly 47% and valued at $0.062 as of press time.<\/p>\n<h2>Get an Edge on the Crypto Market \ud83d\udc47<\/h2>\n<p>Become a member of CryptoSlate Edge and access our exclusive Discord community, more exclusive content and analysis.<\/p>\n<p>  <strong>On-chain analysis<\/strong><\/p>\n<p>  <strong>Price snapshots<\/strong><\/p>\n<p>  <strong>More context<\/strong><\/p>\n<p> Join now for $19\/month Explore all benefits<br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/defi-protocol-oxygen-held-95-of-supply-on-ftx\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana-based decentralized prime brokerage platform Oxygen Protocol revealed on Nov. 15 that 95% of its MAPS and OXY tokens supply were held on bankrupt crypto exchange FTX. 1\/ The MAPS and Oxygen teams are shocked by events relating to FTX Group\u2019s bankruptcy proceedings. \u2014 Oxygen \u2013 Decentralized Prime Brokerage (@Oxygen_protocol) November 15, 2022 The statement [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-8587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8587"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8587\/revisions"}],"predecessor-version":[{"id":8589,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8587\/revisions\/8589"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/8588"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}