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

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

Blockchain analytics firm Spot On Chain estimates that entities that have identified the activity have transferred $591 million using 59 different cryptocurrency tokens since October 24.

The wallets connected to FTX distributed the latest transfers of $23.59 million in 19 tokens: 3,150 Ether (ETH) worth $6.8 million, 59.6 million Aleph.im (ALEPH) worth $6.41 million, Curve DAO (CRV) tokens $2.48 million, the Avalanche $990,000 (AVAX) and $848,000 Chainlink (LINK).

#FTX and #Alameda Research have released 19 assets worth $23.59M to #Binance, #Coinbase, #OKX, #GalaxyDigital OTC in the last 4 days, including:

3,150 $ETH ($6.8M) 59.6M $ALEPH ($6.41M) 3.60M $CRV ($2.48M) 33,388$AVAX ($990K) 50,282$LINK(848K) and $6.07M worth 14 others… pic.twitter.com /dHAXKDGJn7

— Spot On Chain (@spotonchain) December 9, 2023

Additionally, 6.07 million in various assets including PUNDIX (PUNDIX), Reserve Rights (RSR), Dogecoin (DOGE), Bitcoin Cash (BCH), Chromia (CHR), Axie Infinity (AXS), Polygon's (MATIC), Uniswap ( Dollar UNI), Orbs (ORBS), Frax Share (FXS), Polkadot (DOT), STEPN (GMT), 1INCH (1INCH) and Solana (SOL) participated in the transfers. FTX wallets have moved these assets to larger exchanges such as Binance, Coinbase, OKX and Galaxy Digital OTC.

On October 24, FTX and Alameda wallets transferred $10 million to a wallet address, which was later distributed to Binance and Coinbase accounts. On November 1, $13.1 million was transferred to the Binance and Coinbase accounts in a similar transaction.

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

The fund's activity began in March when FTX and Alameda began redeeming properties for investors. At the time, three wallets associated with FTX and Alameda Research moved $145 million worth of stablecoins to different platforms, including Coinbase, Binance, and Kraken.

Of the total, $69.64 million of Tether (USDT) was moved to holding wallets on crypto exchanges, while the remaining $75.94 USD Coin (USDC) was transferred to the Coinbase holding wallet.

Although the troubled cryptocurrency exchange has more than $5 billion in cash and liquid cryptocurrency, an additional $3.8 billion in debt is still outstanding.

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