FTX and Alameda Research Dump $83.6 Million on Binance, Coinbase

  • Bankrupt FTX and Alameda projects transfer $13.6 million to major exchanges in 24 hours.
  • Cumulatively, they have moved over $83 in various cryptocurrencies within a week.
  • FTX and Alameda still control over half a billion dollars in various cryptocurrencies.

In a recent development, it has come to light that addresses closely associated with the bankrupt crypto projects FTX and Alameda have engaged in significant transfers again within the last 24 hours. 

According to multiple on-chain tracking resources, FTX-tagged wallets have moved six crypto assets worth over $13.6 to crypto exchanges Binance and Coinbase today alone. Their most recent crypto movement at the reporting time was valued at $5.49 million.

These transfers encompassed a range of popular Ethereum Virtual Machine (EVM) tokens. It includes $2.64 million in DYDX, $1.05 million in AXS, $520,000 allocated to AAVE, and $4.85 million directed towards GRT. Prominent Chinese reporter Colin Wu captured the development in a recent post on X (formerly Twitter)

Cumulatively, FTX and Alameda Research have systematically deposited 26 different EVM tokens onto crypto exchanges Binance and Coinbase since October 25. The dollar value of the tokens is estimated at $83.6 million.

Furthermore, on-chain Analysis of the addresses of the two entities suggests they still command over half a billion dollars in various cryptocurrencies. According to Spot On Chain, 13 FTX-tagged wallets have a cumulative balance of $446.851 million. Leading the pack is the exchange’s ill-fated native token, FTT, with $306.59 million. It also holds $18.31 million and 14.70 million in Ethereum and Polygong (MATIC) tokens.

On the other hand, 18 Alameda Research-tagged addresses jointly hold $235.592 million in cryptocurrencies such as Worldcoin (WLD), Wrapped Ethereym (WETH), FTT, stablecoins USDT and DAI.
Notably, FTX’s decision to deposit over $83 million to centralized exchanges has stirred the crypto community, as some considered it a move to dump the tokens on retail. It is worth mentioning that the bankrupt exchange recently received court approval to liquidate over $3 billion in crypto assets to repay customers.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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