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October 31, 2023

FTX and Alameda Research Transfer $27.2 Million in Assets to Settle Debts and Liquidate Digital Assets

Natasha Fernandez
Written byNatasha FernandezWriter
Researched byNikos PapadopoulosResearcher

Introduction

According to recent data from Lookonchain, FTX and Alameda Research have transferred assets worth $27.2 million as of October 31. This includes RNDR ($17.93 million), SOL ($4.7 million), ETH ($2 million), MKR ($1.18 million), REN ($1.12 million), and GRT ($0.27 million).

FTX and Alameda Research Transfer $27.2 Million in Assets to Settle Debts and Liquidate Digital Assets

Significant Transfers

FTX and Alameda Research have transferred over $106 million in crypto assets to date. Despite these transfers, they still hold $736 million in EVM assets, as reported by Spot On Chain.

Transaction Details

Starting from October 25, FTX and Alameda made a series of transactions involving multiple addresses. Funds were transferred to centralized exchanges like Binance and Coinbase. The transfers have been ongoing since then.

Previous Transfers

Earlier this month, FTX and Alameda transferred COMP ($1.01 million) and RNDR ($2.04 million) to Binance via Wintermute. They also moved $6.5 million in assets, including UNI, DYDY, SUSHI, and LDO, to intermediary addresses before sending them to exchanges.

Restitution and Debts

The recent reshuffling of cryptocurrency funds by FTX and Alameda indicates their intention to liquidate certain digital assets to settle outstanding debts with creditors. Alameda had previously used FTX customer assets to repay loans, resulting in a debt of $10 billion as of November 2022.

Conclusion

FTX and Alameda Research have made significant asset transfers, totaling $27.2 million. These transfers are part of their strategy to settle debts and liquidate digital assets. The companies continue to hold a substantial amount of EVM assets despite the transfers.

About the author
Natasha Fernandez
Natasha Fernandez
About

Natasha "CryptoQueen" Fernandez bridges the gap between blockchain buzz and casino charisma. From New Zealand's serene landscapes to the volatile world of crypto, she's making waves in the online gaming sphere. With CryptoCasinoRank, she paints a future where chips meet chains seamlessly.

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