FTX and Alameda Crypto Transfer $13.1M to Exchanges Overnight

Key Points:

• FTX and Alameda Crypto transferred $13.1 million in altcoins to several crypto exchanges.
• The largest FTX and Alameda crypto transfers were to Coinbase and Binance, and the biggest altcoins transferred were GRT, RNDR, DYDX, AXS, and AAVE.
• FTX and Alameda Crypto Transfers follow a court-ordered liquidation process that allows FTX to sell $3.4 billion in crypto assets in weekly batches.

Cryptocurrency wallets linked to the discontinued cryptocurrency exchange, FTX, and its partner trading firm, Alameda Research, have commenced transfers totaling upwards of $13 million in diverse alternative cryptocurrencies to several crypto exchanges as of November 1.

FTX and Alameda Crypto Transferred $13.6M in Altcoins to Coinbase and Binance

On-chain analysis company Spotonchain unveiled that the FTX wallet initially transferred $8.12 million of alternative cryptocurrencies to Coinbase. These assets included 46.5 million units of The Graph’s GRT, valued at $4.85 million, 972,073 Render (RNDR) tokens totaling $2.3 million, and 708.1 Maker tokens worth $967,000.

Following this, the wallet addresses associated with FTX and Alameda Research performed another transfer valued at $5.49 million after a three-hour gap, moving the funds to Binance and Coinbase. In this transaction, the top three assets were 1.14 million dYdX (DYDX) tokens, valued at $2.64 million, 192,888 Axie Infinity tokens totaling $1.05 million, and 5,858 Aave tokens, amounting to $522,000.

FTX Moved Crypto to Exchanges Ahead of Liquidation

Before this total sum of $13.1 million was transferred on November 1, Nansen, a cryptocurrency analytics firm, voiced concerns about the movements of FTX-linked wallets during the previous week. During this period, millions of dollars in various cryptocurrencies were deposited on different cryptocurrency exchanges. Initially, a batch of alternative cryptocurrencies worth $8.1 million was sent to Binance. Nansen calculated that an extra $24.3 million in assets had departed from wallets connected to FTX and Alameda, later being deposited into Binance and Coinbase.

FTX-linked wallets have persisted in transferring their collections of alternative cryptocurrencies to crypto exchanges over the past month, following a court-ordered phased liquidation process. This court order permits FTX to sell digital assets valued at over $3 billion through an investment adviser on a schedule of weekly batches, in line with predefined rules.

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