The estate of bankrupt crypto exchange FTX and its trading arm Alameda Research moved nearly $20 million in crypto assets this weekend.
First spotted by blockchain tracking company Lookonchain, wallets from FTX and Alameda moved a total of $19.4 million in crypto assets, largely consisting of Solana (SOL) and several other altcoins.
“UPDATE:
FTX/Alameda today transferred another $19.4 million in assets, including:
309,185 SOL ($10 million)
2.03 million BAND ($3.15 million)
3.82 million PERP ($2.3 million)
46.67 million TRU ($1.78 million)
4.39 million BICO ($1 million)
915,048 KNC ($686,000)
5.47 million CVC ($479,000)
7,275 BOND ($30,000).”
Lookonchain keeps track of all crypto assets transferred from FTX’s bankruptcy estate, which amounted to $78.7 million as of October 28. Key crypto assets removed from estate-managed wallets include SOL, Ethereum (ETH), Chainlink (LINK) Polygon (MATIC), and cross-chain data oracle platform Band Protocol (BAND).
Look at chain notes that the companies’ bankruptcy estate still contains approximately $600 million in crypto assets that have not been sold or transferred, including nearly $100 million in ETH.
“We analyzed eight FTX/Alameda addresses that recently sold assets.
These addresses currently hold ~$619 million in crypto assets.
Included:
55,280 ETH ($99 million)
69.7 million FTT ($91.55 million)
25 million WLD ($44.6 million)
53 million MATIC ($33 million)
16.9 million TOMOE ($30.7 million).”
Former FTX CEO Sam Bankman-Fried, who faces decades in prison, began his testimony last week after some rather damning testimony from several of his former colleagues.
Caroline Ellison, the ex-CEO of Alameda, testified that she received instructions from Bankman-Fried to commit several crimes.
In a recent interview on the This Week in Startups podcast, Inner City Press reporter Mathew Russell Lee said Ellison’s testimony was particularly damning for Bankman-Fried.
“I think Ellison was a very strong witness because… she [described] how it worked and she pled guilty – admitting she knew Alameda had an incredible $65 billion line of credit with FTX [and] that when people thought they were sending money to trade on the FTX platform, it was diverted to Alameda, but she says very much, “Sam told me to do this.”
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