FTX Moves Over $60M in Crypto Assets This Week

Addresses linked to the FTX exchange and Alameda Research moved more than $60 million in digital assets last week, according to blockchain analytics firm Nansen.

Renowned blockchain analytics firm Nansen Exchange has transferred millions of crypto assets to Coinbase and Binance over the course of the week.

FTX transfers over $60M

Nansen revealed that the exchange moved $8.6 million in assets earlier in the week, including cryptocurrencies such as Chainlink, Avalanche and Ethereum. The exchange will later move $24.3 million in digital assets to Binance and Coinbase.

Looking at these transactions and others, Nansen concluded that FTX transferred $60 million worth of assets, including the removal of 943,000 SOL (about $32 million) from its cold storage bag through October 27.

The link between these transfers and the exchange's bankruptcy proceedings remains unclear. A US bankruptcy court recently granted FTX permission to liquidate up to $100 million worth of cryptocurrency holdings per week.

An additional 20 million dollars have been moved

According to updated data from on-chain investigator Lookonchain, FTX moved an additional $20 million worth of assets on October 28.

According to Lookonchain, FTX wallets transferred 309,185 Solana ($10 million), 2.03 million Band Protocol tokens ($3.15 million), 3.82 million Perpetual Protocol tokens ($2.3 million) and 46.67 million TrueFi tokens ($1.78 million).

Other assets that were part of these transfers included 4.39 million Biconomy tokens ($1 million), 915,048 Kyber Network Crystal tokens ($686,000), 5.47 million Civic tokens ($479,000) and 7,275 Barnbridge tokens ($30,000).

This brings the total value of assets transferred by the exchange this week to $78.7 million, according to Loonchain data.

Meanwhile, these transactions come after FTX recently stockpiled $150 million worth of Ethereum and Solana tokens earlier this month.

These stakings are done through the institutional staking platform Fiment. They are expected to reward roughly 4% on Ethereum and 7% on Solana.