In a recent development, addresses closely linked to the troubled crypto projects FTX and Alameda have been involved in notable transfers within the past 24 hours.
FTX-affiliated wallets have executed transfers of six crypto assets valued at over $13.6 million to exchanges Binance and Coinbase. The most recent movement, reported at $5.49 million, involved a range of popular Ethereum Virtual Machine (EVM) tokens, including DYDX, AXS, AAVE, and GRT.
Since October 25, FTX and Alameda Research have systematically deposited a total of 26 different EVM tokens onto Binance and Coinbase, amounting to an estimated $83.6 million.
On-chain analysis indicates that the two entities still control over half a billion dollars in various cryptocurrencies. Thirteen FTX-tagged wallets collectively hold $446.851 million, with FTT token leading the holdings at $306.59 million. Additionally, Ethereum and Polygon (MATIC) tokens account for $18.31 million and 14.70 million, respectively.
In contrast, 18 Alameda Research-tagged addresses jointly hold $235.592 million in various cryptocurrencies, including Worldcoin (WLD), Wrapped Ethereum (WETH), FTT, and stablecoins USDT and DAI.
FTX’s decision to deposit over $83 million to centralized exchanges has sparked discussion within the crypto community, with some interpreting it as a potential move to sell tokens to retail investors. It’s noteworthy that the bankrupt exchange recently obtained court approval to liquidate over $3 billion in crypto assets for customer repayment.
