Home FTX Shift $22 mn In Crypto Amid Bankruptcy

FTX Shift $22 mn In Crypto Amid Bankruptcy

Share
Share

FTX Shift $22 mn In Crypto Amid Bankruptcy

Blockchain analysis firm Lookonchain has highlighted significant digital asset transfers by FTX and Alameda Research, two cryptocurrency entities that have been managing their holdings since declaring bankruptcy. 

The most recent transactions, which began in October 2023, involved transferring $22 million in cryptocurrencies like IMX, GMT, and ETH to several major exchanges. 

The transactions are part of a deliberate strategy to navigate their current financial situation. A $10.8 million transaction was executed, distributing funds across eight different cryptocurrencies to platforms such as Wintermute, Binance, and Coinbase. 

On October 24, wallets associated with FTX and Alameda transferred $10 million to a single address, which was subsequently redistributed to Binance and Coinbase. 

On November 14, 2023, $24 million in assets were transferred across Kraken and OKX exchanges. These steps are part of a U.S. court-approved plan allowing the sale of digital assets, initially capped at $100 million but with potential expansion to $200 million, subject to committee approval.

(With inputs from Shikha Singh)

Share

Latest News

Ripple Prime Lands $200M Funding Deal To Boost Institutional Crypto Margin Trading
News

Ripple Prime Lands $200M Funding Deal To Boost Institutional Crypto Margin Trading

Key Takeaways Neuberger Berman has offered Ripple Prime $200 million in capital to increase institutional cryptocurrency margin trading. Depending on investor demand,...

LayerZero Apologizes For Handling Of Kelp DAO Exploit
News

LayerZero Apologizes For Handling Of Kelp DAO Exploit

LayerZero issued a public apology regarding its handling of the April 18 exploit involving Kelp DAO’s cross-chain bridge, which resulted in the...

Crypto.com Scores Major UAE Win With First Ever SVF License
News

Crypto.com Scores Major UAE Win With First Ever SVF License

Key Takeaways Crypto.com has become the first cryptocurrency company to get a UAE Stored Value Facilities (SVF) license, a significant step forward...

Stablecoins Now Drive 90% Of Peru's $28B Crypto Market
News

Stablecoins Now Drive 90% Of Peru’s $28B Crypto Market

Stablecoins now account for nearly 90% of Peru’s annual cryptocurrency transaction volume, according to Binance Latam North General Manager Daniel Acosta. Peru’s...

Latest Blogs

Art Of Becoming A Memecoin Master & Staying Ahead

Within the cryptocurrency market, memecoins are a more lighthearted and entertaining segment. They are created from online comedy, viral trends, and jokes....

“Click, Token, Own!” Why RWA Is The Future Of Finance?

A financial revolution, RWA tokenization bringing real-world assets onto blockchain RWA tokenization increases accessibility, quickness and transparency, pushing markets to expand rapidly,...

Top 5 Ways To Spot The Best AI Coin

Artificial Intelligence (AI) is the talk of the town as it goes on to completely alter the intrinsic landscape of our industries...

Stablecoins Go Mainstream: How Hong Kong’s Bold Regulation Is Shaping Future Of Digital Finance

The word “stablecoin” is no longer limited to tech jargon in today’s quickly changing financial scene. It is now a structural component...

Related Articles

Art Of Becoming A Memecoin Master & Staying Ahead

Within the cryptocurrency market, memecoins are a more lighthearted and entertaining segment....

“Click, Token, Own!” Why RWA Is The Future Of Finance?

A financial revolution, RWA tokenization bringing real-world assets onto blockchain RWA tokenization...

Top 5 Ways To Spot The Best AI Coin

Artificial Intelligence (AI) is the talk of the town as it goes...

Stablecoins Go Mainstream: How Hong Kong’s Bold Regulation Is Shaping Future Of Digital Finance

The word “stablecoin” is no longer limited to tech jargon in today’s...