Nansen, a leading on-chain analytics provider, has revealed interesting cryptocurrency transactions involving FTX and Alameda Research wallets. These wallets, now managed by FTX’s creditors, were observed transferring $8.6 million in digital assets to an address associated with Binance, the largest cryptocurrency exchange.
A detailed analysis of chain data shows that FTX and Alameda Research addresses were involved in moving various assets, including LINK, AAVE, MKR, and ETH. Nansen meticulously documented the transaction, which involved $2.2 million in Chainlink (LINK), $1 million in Aave (AAVE), $2 million in Maker tokens (MKR), and $3.4 million in Ethereum (ETH).
The movement of these funds occurred in two stages, with the assets being transferred to an address before ending up in a portfolio monitored by Binance. Nansen speculates that this transfer was likely for selling purposes or preparation for a sale.
This event follows an earlier incident where an FTX hacker redirected millions of dollars to decentralized finance applications (DeFi) to conceal their actions. The hacker’s use of DeFi platforms for obfuscation techniques has left the crypto community speculating about their ultimate goal and identity.
In a more recent development, FTX’s debtors have staked a significant amount of Solana (SOL) to potentially earn rewards from their existing holdings.
FTX founder Sam Bankman-Fried has decided to testify directly to the jury in his ongoing criminal trial. His defense team aims to prove his innocence and disprove charges of fraud or conspiracy brought against him following the collapse of his cryptocurrency exchange.
Bankman-Fried’s decision to testify marks a crucial moment in the trial. He has been outspoken about the circumstances surrounding FTX’s collapse through interviews, a Substack newsletter, and social media. However, FTX insiders testified that he played a central role in alleged fraudulent activities.
The defense plans to call only a few witnesses, including financial services expert Joseph Pimbley and possibly a Bahamian lawyer. On the prosecution side, witness statements are expected to be completed quickly, with FBI agent Mark Troiano as the only other expected witness.
Bankman-Fried’s testimony will be pivotal in determining the trial’s outcome. The prosecution must prove his guilt beyond a reasonable doubt, while the defense aims to establish his innocence to the same standard.
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