FTX and Alameda Research invest $10.8M in Binance, Coinbase, Wintermute.
Wallets linked to defunct crypto trading firms FTX and Alameda Research moved $10.8 million to Binance, Coinbase and Wintermute accounts using eight cryptocurrencies.
Blockchain analytics firm Spot On Chain tracked the activity, estimating that since Oct. 24, defunct entities have transferred $551 million using 59 different cryptocurrency tokens.
#FTX and #Alameda have released 8 assets worth $10.8M to #Wintermute, #Binance and #Coinbase in the last 11 hours:
$10M GMT ($2.58M) 407K $UNI ($2.41M) $5.23M $SYN ($2.25M) $8.76M $KLAY ($1.64M) $3.87M $FTM ($1.18M) $77.77B $SHIB ($644K) and a small amount $ARB and $OP
Note… pic.twitter.com/0jb5ZMHvC7
— Spot On Chain (@spotonchain) December 1, 2023
The latest transfer of $10.8 million was spread across eight tokens: $2.58 million in StepN GMT (GMT), $2.41 million in UniSwap's UNI (UNI (UNI), $2.25 million in Synapse's SYN, $1.64 million in Klaytn's KLAY, $1.18 million in Fantom's FTM, $644,000 in Shiba Inu (SHIB) and a small amount of Arbitrum ARB and Optimism OP.
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: Team of former FTX execs to build new crypto exchange 12 months after FTX collapse: Report
The fund's activities began in March when FTX and Alameda began the process of acquiring 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 lot, $69.64 million in Tether (USDT) was moved to holding wallets on crypto exchanges, while the remaining $75.94 million in Tether (USDC) was transferred to the Coinbase holding wallet.
While the troubled cryptocurrency at the time had more than $5 billion in cash and liquid cryptocurrencies, its total liabilities exceeded $8.8 billion.
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