Tokens of Alameda-backed DeFi Projects Maps.me and Oxygen Locked Up at FTX
Maps.me and Oxygen, two decentralized finance (DeFi) projects backed by Sam Bankman-Fried’s beleaguered Alameda Research, said in a statement that over 95% of the overall supply of their ecosystem tokens are custodied at bankrupt crypto exchange FTX.
The statement further said that the teams are considering all options on how to protect the ecosystems and have retained legal advisors to help with the ongoing process.
In January of 2021, Alameda Research led a $50 million investment in Maps.me – a mobile alternative to Google Maps with about 100 million users – and one month later led a $40 million investment round in Oxygen, with the hope of integrating Oxygen into Maps.me.
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