Seizure of $300M from Alameda Research Accounts
Recently, the US Government confiscated over $300 million from three Alameda Research accounts on Binance and BinanceUS. This action is part of a larger forfeiture case involving assets worth more than $700 million from FTX and Alameda Research.
Details of the Confiscated Funds
The funds seized from the Alameda Research accounts are now labeled under the ‘US Government’ entity on Arkham Intelligence’s platform. Here is the breakdown of the confiscated assets:
- $119.3 million in USDT
- $102.38 million in BTC and WBTC
- $28.35 million in BNB
- $26.26 million in ETH and WETH
- $13.62 million in BUSD
Background and Circumstances
The seizure took place in January 2023 as part of an initiative to reclaim assets related to the controversial collapse of FTX and its subsidiary, Alameda Research. The total assets involved in the forfeiture exceed $700 million, indicating the extent of financial irregularities and legal issues associated with these entities.
Impact on the Cryptocurrency Market
This seizure serves as a stark reminder of the escalating regulatory oversight on cryptocurrency exchanges and affiliated organizations. It also underscores the potential risks and complexities that can impact investors and businesses in the crypto market.
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