Crypto fund Alameda Research holds just over $222 million in cryptocurrencies over 56 Ethereum addresses, analysis by on-chain researcher Lookonchain showed Wednesday.

That's half the more than $500 million it had Oct. 1, according to data compiled by The Block. Ether (ETH), the native token of the Ethereum blockchain, fell just over 8% in the same period.

Alameda has come under scrutiny following a CoinDesk report last week that found its balance sheet was full of FTT, the native token of crypto exchange FTX. Both companies are owned by Sam Bankman-Fried, meaning the trading fund rested on a foundation largely made up of a coin invented by its sister company, not an independent asset like a fiat currency or another cryptocurrency.

More than $150 million of Alameda's tokens are held in its Ethereum wallets, with 50% of that held in just one wallet. Another 13 addresses hold more than $1 million, and 19 contain $100,000. Some $75 million worth of tokens is held in decentralized finance (DeFi)-based wallets.

Crypto holdings over $1 million consist of stablecoins, ether, BitDAO (BIT) and FTT.

Alameda has debt of $3.6 million overall, the research shows.

Alameda supplied more than 6.9 million FTT tokens, worth $35 million at the time of this writing, to DeFi lending application Abracadabra. Another 4.6 million SUSHI, worth $6.11 million, is held on the DeFi exchange SushiSwap.

“She could withdraw and sell at any time,” Lookonchain said, referring to Alameda co-CEO Caroline Ellison.

Alameda didn't immediately respond to a request for comment.