FTX & Alameda Move $27 mn In Crypto Assets
FTX and Alameda Research have transferred assets worth $27.2 million as of October 31, including RNDR, SOL, ETH, MKR, REN, and GRT.
The transfer of over $106 million in crypto assets, including $736 million in EVM assets, began on October 25 and has continued to occur.
The firm’s recent reshuffling of cryptocurrency funds reflects its intention to liquidate certain digital assets as part of a strategy to settle outstanding debts with creditors.
In 2022, Alameda covertly tapped into customer funds within FTX to repay all outstanding loans due by the summer of that year, avoiding suspicion.
As of November 2022, Alameda’s debt escalated to $10 billion due to its approach to repay creditors using FTX customer assets.
(With inputs from Shikha Singh)
You need to login in order to Like
