FTX and Alameda move $23.59M in assets to Binance, Coinbase, OKX

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Changelly

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In four days, wallets linked to defunct crypto trading firms FTX and Alameda Research moved $23.59 million worth of digital assets to top cryptocurrency exchanges.

Blockchain analytics firm Spot On Chain identified the movement, estimating that the defunct entities have transferred $591 million since Oct. 24 using 59 different cryptocurrency tokens.

The wallets linked to FTX spread the latest transfer of $23.59 million across 19 tokens: 3,150 ETH  valued at $6.8 million, 59.6 million ALEPH (ALEPH) worth $6.41 million, $2.48 million in Curve (CRV), $990,000 in Avalanche (AVAX), and $848,000 in Chainlink (LINK).

Additionally, $6.07 million in diverse assets, including PUNDIX, RSR, DOGE, BCH, CHR, AXS, MATIC, UNI, ORBS, FXS, DOT, GMT, 1INCH, and SOL, were involved in the transfers. The FTX wallets moved these assets to large exchanges such as Binance, Coinbase, OKX, and Galaxy Digital OTC.

Tokenmetrics

On Oct. 24, the FTX and Alameda wallets transferred $10 million to a single wallet address, which was later redistributed to Binance and Coinbase accounts. On Nov. 1, a similar transaction occurred between the parties involving $13.1 million being moved to Binance and Coinbase accounts.

Related: FTX to submit revised reorganization plan in mid-December

The funds’ movement dates back to March when FTX and Alameda began recovering assets for investors. At the time, three wallets associated with FTX and Alameda Research moved $145 million worth of stablecoins to various platforms, including Coinbase, Binance and Kraken.

Of the total, $69.64 million in Tether USDT was moved to custodial wallets on crypto exchanges, while the remaining 75.94 million USD Coin USDC was transferred to a Coinbase custodial wallet.

Although the troubled cryptocurrency exchange has recovered more than $5 billion in cash and liquid cryptocurrencies, a further $3.8 billion in liabilities remain outstanding.

Magazine: Expect ‘records broken’ by Bitcoin ETF: Brett Harrison (ex-FTX U.S.), X Hall of Flame



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