FTX, Alameda Wallets Move Millions in Crypto to Exchanges: Spotonchain

CoinDeskPolicyPublished on 2023-10-31Last updated on 2023-11-01

Abstract

Just over $13 million in crypto were moved to Binance and Coinbase overnight in accordance with a bankruptcy court order allowing the sale of some FTX assets, data from Spoton...

Millions of dollars worth of crypto assets have been moved out of official wallets linked to FTX and its trading firm Alameda in the past 24 hours, according to Spotonchain, as the bankrupt exchange labors under court supervision to salvage value and maximize its token holdings.

More than $13 million worth of various crypto tokens were moved to exchange platforms Binance and Coinbase, from wallets linked to the two firms since midnight UTC, Spotonchain said. The tokens moved include (DYDX), (AAVE) and Axie Infinity’s (AXS).

7.3K

The transfers follow a September court order that allows the bankruptcy estate to sell, stake and hedge crypto holdings worth over $3.4 billion. Last week, around $19 million in solana (SOL) and ether (ETH) were moved from wallets to crypto exchanges.

A D V E R T I S E M E N T
A D V E R T I S E M E N T

A Spotonchain post on X, formerly Twitter, dated Oct. 31 shows a further $19.5 million in various tokens were deposited to Coinbase. Peckshield also reported movements on Oct. 31, saying the wallets were labeled as belonging to FTX or Alameda.

FTX's bankruptcy proceedings continue in Delaware while its founder, Sam Bankman-Fried, faces a criminal fraud trial in New York.

Read more: FTX Cold Wallets Move $19M in Solana, Ether to Crypto Exchanges

Edited by Sheldon Reback.


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