Crypto wallets linked to the now-defunct crypto exchange FTX and its sister trading company Alameda Research sent more than $13 million worth of different altcoins to numerous crypto exchanges early on November 1.
According to data from on-chain analytics firm Spotonchain, the FTX wallet transferred $8.12 million worth of altcoins to Coinbase for the first time. 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 Research wallet addresses made another transfer of $5.49 million after three hours to Binance and Coinbase. The top 3 most valuable assets 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 #mall Research also deposited $5.49 million in 6 assets $GHOST, $ALICE $AXS, #C98, $DYDX, $ZRXto #Binance and #Coinbase ~30 minutes ago.
The top 3 include:
1.14 million $DYDX ($2.64 million)
192,888 $AXS ($1.05 million)
5,858 $GHOST ($522K)In general, #FTX and #mall Research has... https://t.co/Rw0PnalH6G pic.twitter.com/JPbIXZJPzv
- Spot on chain (@spotonchain) November 1, 2023
Related: FTX's Sam Bankman-Fried to testify in criminal trial, defense lawyers say
Prior to the $13.1 million fund movement on November 1, crypto analytics firm Nansen noted several FTX-linked wallet movements over the past week, in which millions in various cryptocurrencies were deposited on different cryptocurrency exchanges. First, a batch of altcoins worth $8.1 million was moved to Binance; Nansen estimated that another $24.3 million in assets left behind wallets linked to FTX and Alameda were deposited on Binance and Coinbase.
Apart from the initial $8.6 million moved:
- 2.2 MUSD LINK
- 1 million AAVE dollars
- 2 million MKR dollars
- ETH of 3.4 million dollarsWe have discovered another $24.3 million left by wallets linked to FTX and Alameda that have been deposited on Binance and Coinbase.
But that is not all... pic.twitter.com/Dru4MysxfQ
-Nansen (@nansen_ai) October 27, 2023
On October 31, FTX linked 1.6 million Solana (SOL) tokens worth $56 million that were destacked and sent to an unknown wallet. Another 930,000 SOL worth $32 million linked to FTX and Alameda were moved to another unknown wallet that is speculated to be linked to Galaxy Digital, the official firm designated for the liquidation process.
930k $SOL moves from @FTX_Official and @AlamedaInvestigaciรณn Solana wallets for the last 3 days to the 5RAHK wallet.
It is this @novogratz wallet in @galaxyhq Galaxy investment partners?
930k $SOL from FTX and Alameda passed through this wallet to the wallets:
-3ADzk
-5sTQ5
-Ca469
-8CAAyโฆ pic.twitter.com/LXecevHUqz-MartyParty (@martypartymusic) October 31, 2023
Data aggregated by Spotonchain suggests that assets worth a total of $78 million were sent to crypto exchanges from FTX and Alameda Wallet over the past week.
FTX linked wallets have continued shipping its stash of altcoins to crypto exchanges over the past month following a court-ordered gradual liquidation process. The court order allows FTX to sell digital assets worth more than $3 billion through an investment advisor in weekly batches according to the pre-established rule.
He gradual liquidation process would allow FTX to sell $50 million in assets weekly, followed by a cap of $100 million in subsequent weeks. The limit can be increased up to $200 million per week with the prior written consent of the creditors committee and the ad hoc committee after court approval.
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