FTX and Alameda move $23.59M in assets to Binance, Coinbase, OKX

Over four days, wallets linked to defunct crypto trading firms FTX and Alameda Research moved $23.59 million worth of digital assets to top cryptocurrency exchanges.

Blockchain analytics firm Spot On Chain identified the movement, estimating that the defunct entities have transferred $591 million since Oct. 24 using 59 different cryptocurrency tokens.

The wallets linked to FTX spread the latest transfer of $23.59 million across 19 tokens: 3,150 Ether (ETH) worth $6.8 million, 59.6 million Aleph.im (ALEPH) worth $6.41 million, $2.48 million of Curve DAO (CRV) tokens, $990,000 of Avalanche (AVAX) and $848,000 of Chainlink’s (LINK).

Additionally, $6.07 million in diverse assets, including Pundi X (PUNDIX), Reserve Rights (RSR), Dogecoin (DOGE), Bitcoin Cash (BCH), Chromia (CHR), Axie Infinity (AXS), Polygon’s (MATIC), Uniswap (UNI), Orbs (ORBS), Frax Share (FXS), Polkadot (DOT), STEPN (GMT), 1inch (1INCH) and Solana (SOL), were involved in the transfers. The FTX wallets moved these assets to large exchanges such as Binance, Coinbase, OKX and Galaxy Digital OTC.

On Oct. 24, the FTX and Alameda wallets transferred $10 million to a single wallet address, which was later redistributed to Binance and Coinbase accounts. On Nov. 1, a similar transaction occurred between the parties involving $13.1 million being moved to Binance and Coinbase accounts.

Related: FTX to submit revised reorganization plan in mid-December

The funds’ movement dates back to March when FTX and Alameda began recovering assets for investors. At the time, three wallets associated with FTX and Alameda Research moved $145 million worth of stablecoins to various platforms, including Coinbase, Binance and Kraken.

Of the total, $69.64 million in Tether (USDT) was moved to custodial wallets on crypto exchanges, while the remaining $75.94 million in USD Coin (USDC) was transferred to a Coinbase custodial wallet.

Although the troubled cryptocurrency exchange has recovered more than $5 billion in cash and liquid cryptocurrencies, a further $3.8 billion in liabilities remain outstanding.

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