SBF had pre-sold tokens to Genesis executives, allowing them to invest at a discount before public offerings like FTT, SRM, etc.

According to the Financial Times, FTX founder SBF conducted a pre-sale of tokens to executives of Genesis, the main lender of its encryption fund Alameda Research, allowing them to invest at a discounted price before the public offering of new tokens such as FTT and SRM. FTT and SRM, as well as SOL, were also accepted by Genesis as collateral for Alameda's borrowing, according to people familiar with the matter.