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Tokens of Alameda-Backed DeFi Projects Maps.me and Oxygen Locked Up at FTX

Alameda Research led funding rounds into both companies in 2021.

Na-update May 9, 2023, 4:02 a.m. Nailathala Nob 15, 2022, 7:11 p.m. Isinalin ng AI
Maps.me and Oxygen, two DeFi projects backed by Sam Bankman-Fried’s Alameda Research, are considering their options. (Danny Nelson/CoinDesk)
Maps.me and Oxygen, two DeFi projects backed by Sam Bankman-Fried’s Alameda Research, are considering their options. (Danny Nelson/CoinDesk)

Maps.me and Oxygen, two decentralized finance (DeFi) projects backed by disgraced entrepreneur Sam Bankman-Fried’s beleaguered Alameda Research, said in a statement Tuesday that over 95% of the overall supply of their tokens are being held at bankrupt crypto exchange FTX.

The statement also said that the projects' teams are considering all options on how to protect their platforms and have hired legal advisers to help.

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In January 2021, Alameda Research led a $50 million investment in Maps.me – a mobile alternative to Google Maps with about 100 million users. One month later, it led a $40 million investment round in DeFi broker Oxygen with the hope of integrating Oxygen into Maps.me.

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Protocol Research: GoPlus Security

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What to know:

  • As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
  • GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
  • Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.

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A16z Crypto to Open Seoul Office, Hire Sungmo Park to Lead Asia Efforts

South Korea's flag (Daniel Bernard/Unsplash)

Andreessen Horowitz's crypto venture capital unit pointed to high levels of crypto ownership in South Korea and Singapore, and growing onchain activity in Japan.

What to know:

  • Venture fund a16z crypto is opening its first office in Asia, located in Seoul, and named Sungmo Park to lead it.
  • The Seoul office aims to build partnerships and accelerate community growth across the region.
  • South Korea's active onchain community and developer ecosystem probably influenced the fund's decision to choose Seoul over other Asian financial hubs.