FTX Estate Transfers Millions in Crypto to Centralized Exchanges
The FTX estate, responsible for handling the bankruptcy of FTX, has made another major transfer of crypto assets to centralized exchanges. Following an $8.6 million transfer on Wednesday, the estate moved nearly $20 million later that day. The movement was detected by analytics firm Peckshield, which alerted the community about it.
According to Peckshield’s disclosure, around 470,000 solana (SOL) tokens worth $15 million were sent to centralized exchanges including Binance. The alert system also revealed that FTX transferred other coins such as ETH, COMP, and RNDN. Additionally, $2.5 million in ether was reportedly sent to Coinbase.
The purpose of these transfers is unclear, but it is speculated that the coins were sent to be sold. The FTX estate has also engaged in staking assets and has staked millions worth of SOL and approximately $5 million worth of ether. The estate is currently working on final proposals in the bankruptcy case.
Hot Take: FTX Estate Continues to Make Significant Moves
The FTX estate handling the bankruptcy of FTX has once again made a substantial transfer of crypto assets, moving nearly $20 million to centralized exchanges. This comes after an earlier transfer of $8.6 million. While the purpose of these transfers remains uncertain, they have caught the attention of the crypto community and raised speculation about potential sell-offs. Additionally, the estate has been actively staking assets as part of its strategy. As the estate progresses towards finalizing proposals in the bankruptcy case, its actions continue to attract scrutiny and interest from observers.
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