Alameda Research Withdrew $204,000,000 in Crypto From FTX.US Days Before Collapse: Analytics Firm Arkham

dailyhodlPublished on 2022-11-29Last updated on 2022-11-29

Abstract

Analytics firm Arkham Intelligence is unveiling the financial tracks of FTX's sister company Alameda Research...

Analytics firm Arkham Intelligence is unveiling the financial tracks of FTX’s sister company Alameda Research days before the now-defunct crypto exchange filed for chapter 11 bankruptcy.
Arkham says the trading firm withdrew $204 million worth of crypto from FTX.US, the US arm of FTX after November 6th.
“Arkham analyzed flows from FTX US in the final few days before the collapse, finding that Alameda withdrew the most funds, at $204M. Below is a diagram of withdrawals to Arkham-identified entities from FTX US.”

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Source: Arkham According to Arkham’s data, Alameda withdrew $38.06 million in wrapped Bitcoin (wBTC), $49.39 million in Ethereum (ETH) and $116.52 million in US dollar-pegged stablecoins, which include Tether (USDT), USD Coin (USDC), Binance USD (BUSD) and TrueUSD (TUSD).
“So what actually happened to the funds that Alameda withdrew?
$204M sent from FTX US to Alameda after Nov 6:
$152.15M deposited to CEX – Binance/FTX
$38.06M sent to BTC Blockchain
$13.87M held in trading wallet 0xa20.”
Arkham also says that $35.52 million in ETH went to FTX and $13.87 million of it was transferred to trading wallet 0xa20, a large wallet active in OTC trading.
“It’s unknown whether the almost 14M in ETH was sent to 0xa20 as part of a trade, or as an internal fund transfer within Alameda.”
The funds in wBTC were transferred to Alameda’s wBTC merchant wallet and later on moved to the BTC blockchain.
Of the USDT stablecoins, $10.04 million was moved to Binance, $32.17 million was swapped to USDC and sent to FTX and $47.379 million was sent directly to FTX. The $10.151 million in USDC, $16.285 million BUSD and $500,000 TUSD were sent directly to FTX, as per Arkham.
“The analysis shows that Arkham identified 8 different addresses that Alameda withdrew a total of $204M in various crypto-assets. Of this, $142.4M (69.8% of the total) was sent to wallets owned by FTX International, suggesting that Alameda may have been operating to bridge  between the two entities.”

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