The crypto wallets linked to now-defunct crypto exchange FTX and its sister trading firm Alameda Research have sent over $13 million in different altcoins to numerous crypto exchanges early on Nov. 1.
According to data from on-chain analysis firm Spotonchain, the FTX wallet first transferred $8.12 million worth of altcoins to Coinbase. The assets include 46.5 million GRT ($4.85 million), 972,073 RNDR ($2.3 million), and 708.1 MKR ($967,000).
FTX and Alameda linked crypto deposit on Coinbase. Source: SOC
The wallet addresses of FTX and Alameda Research made another $5.49 million transfer after three hours to Binance and Coinbase. The top 3 assets with the highest value in this transaction include 1.14 million DYDX ($2.64 million), 192,888 AXS ($1.05 million), and 5,858 AAVE ($522,000).
#FTX and #Alameda Research further deposited $5.49M worth of 6 assets $AAVE, $ALICE $AXS, #C98, $DYDX, $ZRX, to #Binance and #Coinbase ~30 mins ago.
Top 3 include:
1.14M $DYDX ($2.64M)
192,888 $AXS ($1.05M)
5,858 $AAVE ($522K)
Overall, #FTX and #Alameda Research have… https://t.co/Rw0PnalH6G pic.twitter.com/JPbIXZJPzv
— Spot On Chain (@spotonchain) November 1, 2023
Related: FTX’s Sam Bankman-Fried will testify at criminal trial, say defense lawyers
Prior to the $13.1 million funds movement on Nov.1, crypto analytic firm Nansen has flagged several FTX-linked wallet movements over the past week, which saw the deposit of millions in various cryptocurrencies on different crypto exchanges. First, a batch of $8.1 million worth of altcoins was moved to Binance; Nansen estimated that another $24.3 million worth of assets that have left wallets linked to FTX and Alameda were deposited into Binance and Coinbase.
Separate from the initial $8.6M moved:
– 2.2M USD LINK
– 1M USD AAVE
– 2M USD MKR
– 3.4M USD ETH
We have discovered a further $24.3M that has left wallets linked to FTX and Alameda which has been deposited into Binance and Coinbase
But that’s not all… pic.twitter.com/Dru4MysxfQ
— Nansen (@nansen_ai) October 27, 2023
On Oct. 31, FTX linked 1.6 million Solana (SOL) tokens worth $56 million that were unstacked and sent to an unknown wallet. Another 930,000 SOL worth $32 million linked to FTX and Alameda were moved to another unknown wallet speculated to be linked to Galaxy Digital, the official firm designated for the liquidation process.
930k $SOL moves from @FTX_Official and @AlamedaResearch Solana wallets over last 3 days to wallet 5RAHK.
Is this @novogratz wallet at @galaxyhq Galaxy Investment Partners?
930k $SOL from FTX and Alameda passed through this wallet to wallets:
-3ADzk
-5sTQ5
-Ca469
-8CAAy… pic.twitter.com/LXecevHUqz
— MartyParty (@martypartymusic) October 31, 2023
Data aggregated by Spotonchain suggests a total of $78 million worth of assets have been sent to crypto exchanges from FTX and Alameda wallet over the past week.
Total crypto assets sent to exchanges by FTX. Source: SOC
FTX-linked wallets have continued to send their stash of altcoins to crypto exchanges over the past month after a court-ordered phased-out liquidation process. The court order permits FTX to sell digital assets worth over $3 billion through an investment adviser in weekly batches in accordance with the pre-established rule.
The phased-out liquidation process would allow FTX to sell $50 million worth of assets weekly, followed by a $100 million cap in the succeeding weeks. The cap can be increased up to $200 million per week with the previous written consent of the creditors’ committee and ad hoc committee after court approval.
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