FTX and Alameda Research Transfer $22 Million in Digital Assets
Blockchain analysis firm Lookonchain has reported that FTX and Alameda Research are currently engaged in a significant transfer of digital assets, totaling $22 million. The diverse mix of cryptocurrencies being transferred includes $IMX, $GMT, $ETH, UNI, $SHIB, $BAL, $LOOKS, and $WOO.
The Recent Transfers
In their most recent move, a total of $10.8 million was transferred across platforms such as Wintermute, Binance, and Coinbase. This transfer involved eight tokens: $2.58 million in GMT, $2.41 million in UNI, $2.25 million in SYN, $1.64 million in KLAY, $1.18 million in FTM, $644,000 in SHIB, as well as smaller amounts of ARB and OP.
On October 24th, FTX and Alameda wallets transferred $10 million to a single wallet address before being redistributed to Binance and Coinbase accounts. Then on November 14th, a total of $24 million in cryptocurrency assets were moved across Kraken and OKX exchanges.
The Financial Strain
Despite recovering assets worth over $5 billion, FTX is still burdened by liabilities exceeding $8.8 billion. The company is actively working on addressing its substantial debts through ongoing liquidations. The outcome of this liquidation process remains uncertain, leaving the cryptocurrency community eagerly awaiting its conclusion.
Hot Take: The Fate of FTX and Alameda’s Liquidation Saga
The ongoing liquidation saga involving FTX and Alameda Research has captured the attention of the cryptocurrency community. With millions of dollars in digital assets being transferred and the companies grappling with significant debts, the outcome of this financial composition remains unknown. As FTX and Alameda continue to navigate this challenging situation, it is clear that they are making considerable efforts to address their liabilities and provide relief to creditors. The conclusion of this saga will undoubtedly have a significant impact on the future of these crypto powerhouses.
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