FTX and Alameda latest transfer of $23.59 million to Binance, OKX and Coinbase.
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FTX and Alameda latest transfer of $23.59 million to Binance, OKX and Coinbase.

9th Dec, 2023

FTX and Alameda recently shifted $23.59 million across 19 tokens, including ETH, ALEPH, CRV, AVAX, LINK, DOGE, MATIC, UNI and SOL.

Over the span of four days, defunct crypto trading firms FTX and Alameda Research moved $23.59 million worth of digital assets to major cryptocurrency exchanges. Spot On Chain, a blockchain analytics firm, identified these movements, revealing that these entities have transferred $591 million using 59 different cryptocurrency tokens since October 24.

The wallets associated with FTX distributed the recent transfer of $23.59 million across 19 tokens. Notable allocations included 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, and $848,000 in Chainlink.

Furthermore, an additional $6.07 million in various assets, including PUNDIX, RSR, DODGE, BCH, CHR, AXS, MATIC, UNI, ORBS, FXS, DOT, GMT, 1INCH and SOL, were part of the transfers. These assets from FTX wallets were moved to prominent exchanges such as Binance, Coinbase, OKX and Galaxy Digital OTC.

On October 24, a total of $10 million was transferred to a single wallet address by FTX and Alameda wallets, subsequently redistributed to Binance and Coinbase accounts. A similar transaction occurred on November 1, involving the movement of $13.1 million to Binance and Coinbase accounts.

The initiation of fund movements traces back to March when FTX and Alameda began the recovery of assets for investors. During this period, three wallets associated with FTX and Alameda Research shifted $145 million worth of stablecoins to various platforms, including Coinbase, Binance, and Kraken.

Out of the total, $69.64 million in Tether USDT was transferred to custodial wallets on crypto exchanges, while the remaining 75.94 million USD Coin USDC found its way to a Coinbase custodial wallet.

Despite the troubled history of the cryptocurrency exchange, which has successfully recovered over $5 billion in cash and liquid cryptocurrencies, there are still outstanding liabilities amounting to $3.8 billion.

Author

Felix @mecnix





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