Alameda Research and FTX Ventures websites shut down

Quantit trading firm and venture capital arm pages have been taken offline and made private.

Websites linked to crypto exchange FTX were taken down on November 9, following a liquidity crunch and an impending acquisition of the company by rival Binance. The websites of Alameda Research and FTX ventures, the company's venture capital subsidiary, have been taken offline and made private, while the main FTX website and the FTX US website remain accessible.< /p>

Cointelegraph contacted Alameda on Nov. 9, but did not hear back at press time. The latest developments include unconfirmed reports that most of FTX's legal and compliance staff resigned Tuesday night.

The liquidity crunch was announced on Nov. 8 by FTX founder and CEO Sam Bankman-Fried, or SBF, just hours after he assured that “client assets are doing well,” adding that the exchange did not invest clients' assets, even in treasuries.

The crisis unfolded after Binance CEO Changpeng Zhao, or CZ, revealed the decision to liquidate Binance's position of 23 million FTX (FTT) tokens - worth over $520 million at the beginning of this week - for risk management reasons. The news triggered a sell off of the FTT token which was trading at $3.00 at press time; an 87.11% drop in seven days.

As reported by Cointelegraph, some FTX shareholders learned of the deal via Twitter on November 8. In its letter to exchange investors, SBF apologized for being “difficult to contact” in recent days, acknowledged that it had no idea what the deal with Binance exactly means, and finally , close the letter saying he will be "pretty overwhelmed" in the next few days, and write again "when I have time too."

The next steps remain unclear. Binance would exercise due diligence and may opt out of the deal after reviewing the company's structure and books,