FTX- and Alameda-linked wallets move $20m to Binance and Coinbase

Addresses affiliated with the collapsed FTX and Alameda moved more than $10m in cryptocurrency to the accounts of several exchanges within five hours. Lookonchain analysts said.

Are #FTX and #Alameda asset-receiving wallets selling assets?

The #FTX and #Alameda asset-receiving wallets transferred 2,904 $ETH($5.18M), 1,341 $MKR($2.02M), 11,975 $AAVE($1.03M), 198,807 $LINK($2.26M) to #Binance and #Coinbase via wallet\”0xde9A\”.https://t.co/IHNmh2TDcN pic.twitter.com/2l4U0SdlyF

— Lookonchain (@lookonchain) October 25, 2023

According to on-chain data, wallets belonging to the companies sent to Coinbase and Binance:

• 2,904 ETH (~$5.21M);
• 1,341 MKR (~$2.01M);
• 11,975 AAVE (~$1.02M);
• 198,807 LINK (~$2.27M).

Later, the firms transferred an additional 974,270 RNDR (~$2M) and 21,967 COMP (~$995,000).

1/ FTX/Alameda sold 974,270 $RNDR ($2M) and 21,967 $COMP ($995K) again, selling a total of $13.5M in assets.

According to our previous analysis, FTX/Alameda holds a total of ~$3.4B in crypto assets.https://t.co/eqdYmE51sc pic.twitter.com/mZitQcpXFJ

— Lookonchain (@lookonchain) October 26, 2023

A few hours later, the FTX cold wallet deposited onto trading platforms about 250,000 SOL (~$8.1M).

FTX Cold Storage #2 transferred $469,587 $SOL ($15.2M) out 7 hours ago, of which 250K $SOL($8.1M) was transferred to exchanges.

170K $SOL($5.5M) was transferred to #Binance, and 80K $SOL ($2.6M) was transferred to #Coinbase.https://t.co/q0qjhcpPGchttps://t.co/cxJnFSLmvT pic.twitter.com/fdA65dnQZE

— Lookonchain (@lookonchain) October 26, 2023

According to analysts, the companies’ addresses still hold around $3.4 billion in various assets.

2/ FTX/Alameda’s assets include:
$1.162B SOL;
$560M BTC;
$192M ETH;
$137M APT;
$120M USDT;
$119M XRP;
$49M BIT;
$46M STG;
$41M WBTC;
$37M WETH;
$362M SRM;
$309M MAPS;
$164M OXY;
$72M MEDIA;
$51M FIDA;
$28M BRZ;
…https://t.co/i6DoZiJZoo pic.twitter.com/Grji2JnJjs

— Lookonchain (@lookonchain) October 26, 2023

On September 13, the court approved a plan to sell the bankrupt firm’s digital assets to satisfy creditors’ claims. Under the order, FTX must liquidate tokens totaling no more than $100m per week for each position. However, with the special committee’s approval, the limit can be increased to $200m either as a one-off or on a sustained basis.

By mid-2024, the exchange’s customers may receive payouts on claims of $9.2 billion. This follows from the plan approved by creditors’ representatives and the company’s new management.

The claims against FTX rose to 52 cents on the dollar in over-the-counter trades.