Crypto Assets Worth $13.6 Million Transferred from FTX and Alameda Research Accounts
A total of $13.6 million in crypto assets was moved from the accounts of FTX and Alameda Research to Coinbase and Binance exchanges. Spot On Chain analysts revealed that this transfer occurred in two tranches.
The first tranche, worth $8.12 million, consisted of 46.5 million GRT, 972,073 RNDR, and 708,100 MKR. Shortly after, the companies conducted the second tranche amounting to $5.49 million, which included 1.14 million DYDX, 192,888 AXS, and 5,858 AAVE.
Overall, a total of $83.6 million in crypto assets has been transferred from FTX and Alameda Research accounts to various exchanges since the last recorded tranche in October 2023.
FTX currently holds $3.4 billion worth of crypto assets, with SOL coins accounting for over a third of its portfolio at $1.16 billion. Bitcoin holds the second-largest position at $560 million, followed by Ethereum at $196 million. Other assets in the top 10 include APT, USDT, XRP, BIT, STG, WBTC, and WETH.
Hot Take: Crypto Assets Worth $13.6 Million Transferred from FTX and Alameda Research Accounts
A significant transfer of crypto assets worth $13.6 million has taken place from FTX and Alameda Research accounts to popular exchanges like Coinbase and Binance. This movement highlights the active trading activities and liquidity management strategies pursued by these firms.
FTX stands out with its impressive portfolio of crypto assets valued at $3.4 billion. SOL coins dominate its holdings, followed by Bitcoin and Ethereum. The continuous movement of assets between exchanges demonstrates the dynamic nature of the crypto market, where traders and institutions are constantly seeking opportunities.
With the crypto industry evolving rapidly, it is essential for investors and enthusiasts to stay updated on such movements as they can provide insights into market trends and potential investment strategies.
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