FTX-linked wallet activity raises fears of an altcoin dump.

Transfer from the FTX-linked wallet of assets totaling about $10.2 million has sparked concerns about a wave of depletion of its holdings in the context of the bankruptcy proceedings.

“Over $1.5 billion in SOL, SPL-tokens and “wrapped” bitcoins on the FTX address in Solana are moving. It looks like they are preparing for potential sell-offs. Keep an eye on this, especially the ~$200 million in bitcoins on Solana,” — according to Pump House.

According to Arkham Intelligence, as of August 31 the wallet transferred about $6.23 million in ETH and more than $5 million in FTT (about $1.2 million), UNI (about $1.8 million), HXRO (about $1.3 million), SUSHI (about $550 000) and FRONT (about $260 000).

On 24 August FTX informed the court of plans for staking and hedging its cryptocurrencies worth $3 billion — for this the exchange will hire Galaxy Digital Mike Novogratz.

Under the plan, the platform would be allowed to sell tokens totalling no more than $100 million per week, though the limit could be doubled for each individual asset. The restrictions are designed to curtail the impact of the transactions.

Lawyers for the exchange also filed a separate motion to liquidate Bitcoin and Ethereum.

The court will hear the motions on 13 September.

On 31 July FTX to relaunch the offshore exchange with access for users outside the United States. Later, the creditors’ committee criticised the leadership’s idea.

Earlier in June, the platform’s current management team said that it had returned liquid assets worth about $7 billion.