FTX and Alameda Transfer $10 Million Worth of Crypto Assets Amid Speculation
FTX and its sister platform, Alameda Research, have recently moved $10 million worth of crypto assets to Coinbase, Binance, and Wintermute. This transfer involved consolidating funds from three addresses associated with FTX and Alameda into one central address. The movement of these funds has sparked speculation about a potential selloff, possibly linked to FTX founder Sam Bankman-Fried’s ongoing criminal trial in the United States.
One notable transaction involved an FTX-affiliated address sending 2,904 Ether (ETH) worth $5.14 million to the central address. Shortly after, this address sent 1,000 ETH to a Coinbase address and 1,904 ETH to a Binance deposit address on Wintermute. In a separate batch of transactions, an FTX cold wallet transferred 1,341 Maker (MKR) worth $2.09 million to the same address, followed by an Alameda consolidation address moving 198,807 Chainlink (LINK) and 11,974 Aave (AAVE) tokens worth $3.16 million.
These transfers coincide with Sam Bankman-Fried’s trial in which various revelations have emerged through testimonies from former associates.
Recent Movements Amid FTX Bankruptcy and Trial Proceedings
The recent transfers are part of a series of fund movements carried out by FTX wallets since the company filed for bankruptcy. Last week, the FTX bankruptcy estate staked assets such as $122 million worth of Solana (SOL) and $5 million worth of ETH. These transactions align with the ongoing trial of Sam Bankman-Fried in a Manhattan federal court, where he faces charges related to fraud. Testimonies from Bankman-Fried’s former associates, including Caroline Ellison, the former CEO of Alameda, have unveiled significant details throughout the trial.
Hot Take: FTX and Alameda Transfer Crypto Assets Amidst Speculation
FTX and Alameda Research have recently moved $10 million worth of crypto assets to various platforms, triggering speculation about a potential selloff. These transfers come at a time when FTX founder Sam Bankman-Fried is facing criminal charges in a US court. The movement of funds has raised questions about the motivations behind these transactions and their connection to Bankman-Fried’s trial. Additionally, the ongoing bankruptcy proceedings of FTX add another layer of complexity to the situation. As more revelations emerge from the trial and further fund movements occur, it remains to be seen how these actions will impact FTX and its stakeholders.
By
By
By
By
By