- FTX and Alameda Research moved out $23.59M in 19 assets to Exchanges and GalaxyDigital OTC.
- The firms have deposited around $591 million worth of 74 tokens to exchanges since October 24.
- Recently, former FTX CEO Sam Bankman-Fried was found guilty on seven charges.
According to Spot On Chain, a blockchain analytical firm, FTX and Alameda Research moved out $23.59 million worth of 19 assets to Binance, Coinbase, OKX, and GalaxyDigital OTC in the past four days. The firm posted on X (formerly Twitter) that the digital assets involved in the transaction include ETH, ALEPH, CRV, LINK, and many other digital tokens.
Spot On Chain also reported that FTX and Alameda Research have deposited around $591 million worth of 74 tokens to exchanges since October 24, raising several questions and theories among the crypto community. Many crypto users are wondering about the intentions of FTX and Alameda research, and the potential implications of the recent development.
Further details revealed by Spot On Chain showed that the latest transfer by FTX and Alameda included 3,150 ETH, valued at $6.8 million, 59.6 million ALEPH, worth $6.41 million, 3.60 million CRV, equivalent to $2.48 million, 33,388 AVAX, amounting to $990,000, and 50,282 LINK, valued at $848,000.
Other tokens involved in the recent transfer include PUNDIX, RSR, DOGE, BCH, CHR, AXS, MATIC, UNI, ORBS, FXS, DOT, GMT, 1INCH, and SOL, with a cumulative value of $6.07 million.
Recently, former FTX CEO Sam Bankman-Fried was found guilty on seven charges, including money laundering and fraud, casting a shadow on FTX and Alameda Research. Following the development, many crypto users suspect that the recent transfers could be aiming to generate liquidity to address obligations to creditors, as commonly seen in bankruptcy cases.
These developments have added to the growing pressure on the crypto industry, which has been hit with fading investor confidence. However, the situation has also intensified calls for more regulation in the crypto space, especially when dealing with cryptocurrency firms and transactions.
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