FTX and Alameda Research Wallet send $13.1M overnight exchange in crypto
Crypto wallets linked to the now-defunct crypto exchange FTX and its sister business Alameda Research have sent more than $13 million in various altcoins to multiple crypto exchanges.
According to data from on-chain analytics firm Spotonchain, the FTX wallet initially transferred $8.12 million worth of altcoins to Coinbase. The assets include 46.5 million of The Graph's GRT (GRT) ($4.85 million), 972,073 of Render (RNDR) ($2.3 million) and 708.1 of Maker (MKR) ($967,000).
FTX and Alameda Research wallet addresses transferred another $5.49-million to Binance and Coinbase three hours later. The top three assets with the highest value in this transaction were 1.14 million dYdX (DYDX) ($2.64 million), 192,888 Axie Infinity (AXS) ($1.05 million), and 5,858 Aave (AAVE) ($522,000).
#FTX and #Alameda Research also placed 6 assets worth $5.49M, $AAVE, $ALICE $AXS, #C98, $DYDX, $ZRX, for #Binance and #Coinbase ~30 minutes ago.
Top 3 include: $1.14m DYDX ($2.64m) $192,888 AXS ($1.05m) $5,858 AAVE ($522k)
Overall, #FTX and #Alameda Research have… pic.twitter.com/JPbIXZJPzv
— Spot On Chain (@spotonchain) November 1, 2023
Related: FTX's Sam Bankman-Fried will testify at trial, defense attorneys say
In the year Prior to the $13.1 million cash movement on November 1, crypto analytical firm Nansen reported several FTX-related wallet movements last week, with millions of funds deposited in various cryptocurrencies. First, a batch of altcoins worth $8.1 million was transferred to Binance; Nansen left wallets linked to FTX and Alameda and another $24.3 million worth of assets were deposited into Binance and Coinbase.
$8.6m moved from the start:
– 2.2M USD LINK- 1M USD AAVE- 2M USD MKR- 3.4M USD ETH
We found an additional $24.3M that left FTX and Alameda connected wallets to Binance and Coinbase.
But that's not all… pic.twitter.com/Dru4MysxfQ
— Nansen (@nansen_ai) October 27, 2023
On October 31st, FTX sent 1.6 million Solana SOL (SOL) tokens worth $56 million unclaimed and sent to an unknown wallet. Another 930,000 SOL worth $32 million linked to FTX and Alameda was transferred to another unknown wallet, Galaxy Digital, the official organization named for the liquidation process.
930k$SOL moves from @FTX_Official and @AlamedaResearch Solana wallets in last 3 days to wallet 5RAHK.
Is this @novogratz wallet on @galaxyhq Galaxy Investment Partners?
930k $SOL passed to wallets from FTX and Alameda via this wallet:
-3ADzk-5sTQ5-Ca469-8CAAy… pic.twitter.com/LXecevHUqz
— Martyparty (@martypartymusic) October 31, 2023
According to data compiled by Spotonchain, a total of $78 million worth of assets were sent to crypto exchanges from FTX and Alameda wallets in the past week.
FTX-linked wallets continued to transfer their holdings of altcoins to crypto exchanges last month after a court-ordered liquidation process. The court order allows FTX to sell digital assets worth more than $3 billion each week through an investment advisor, according to pre-set rules.
The discontinued liquidation process allows FTX to sell $50 million worth of assets each week, followed by a $100 million cap in subsequent weeks. After court approval and prior written consent of the creditors' committee and the interim committee, the cap may increase by up to $200 million per week.
Magazine: The Truth Behind Cuba's Bitcoin Revolution: An On-the-Ground Report
