FTX and Alameda Shift Millions to Binance and Coinbase!


FTX and Alameda Shift Millions to Binance and Coinbase!
© Getty Images News/Michael M. Santiago

Recent blockchain analysis has revealed notable fund transfers from the defunct crypto trading firms FTX and Alameda Research to various cryptocurrency exchanges, marking a significant development in the ongoing saga of these entities.

Millions in Crypto Transferred

According to Spot On Chain, a blockchain analysis firm, wallets linked to FTX and Alameda Research moved a combined total of $10.8 million in cryptocurrencies to accounts on Binance, Coinbase, and Wintermute.

This latest transfer involved eight different cryptocurrencies, including notable amounts in StepN (GMT), Uniswap (UNI), Synapse (SYN), Klaytn (KLAY), Fantom (FTM), and Shiba Inu (SHIB), along with smaller quantities of Arbitrum (ARB) and Optimism (OP).

"#FTX and #Alameda moved out $10.8M worth of 8 assets to #Wintermute, #Binance , and #Coinbase in the past 11 hrs: 10M $GMT ($2.58M) 407K $UNI ($2.41M) 5.23M $SYN ($2.25M) 8.76M $KLAY ($1.64M) 3.87M $FTM ($1.18M) 77.77B $SHIB ($644K) and small amounts of $ARB and $OP." Spot On Chain said on X.

Since October 24, the defunct entities have transferred approximately $551 million using 59 different cryptocurrency tokens. The notable cryptocurrencies in the latest transfer include $2.58 million in StepN, $2.41 million in Uniswap, and $2.25 million in Synapse, among others.

Ongoing Asset Recovery Efforts

The transfer of funds dates back to March 2023, a crucial period when FTX and Alameda Research began recovering assets for investors. During this time, three wallets associated with these firms moved $145 million worth of stablecoins to various platforms, including Coinbase, Binance, and Kraken.

The distribution of these funds was significant, with $69.64 million in Tether (USDT) being moved to custodial wallets on crypto exchanges. Additionally, $75.94 million in USD Coin (USDC) was transferred to a Coinbase custodial wallet.

Earlier, on October 24, FTX and Alameda wallets transferred $10 million to a single wallet address, which was later redistributed to Binance and Coinbase accounts. A similar transaction occurred on November 1, involving $13.1 million being moved to the same exchanges.

These movements are part of an ongoing effort to manage the fallout from the collapse of FTX and Alameda Research, highlighting the complex process of asset recovery in the cryptocurrency world.

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