Millions in Ether, Chainlink Linked to FTX and Alameda Moved
These funds seemed to be sent to wallets of crypto exchange Binance, where they presumably could be sold.
Oct 25, 2023 at 12:28 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/NBQCEWYVNZCLPC4DPHMVCZZ52A.jpg)
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Millions of dollars worth of various tokens tied to the crypto wallets of bankrupt firms FTX and Alameda Research moved to other wallets earlier on Wednesday, on-chain firm Nansen tweeted.
These funds seemed to be sent to wallets of crypto exchange Binance, where they presumably could be sold.
Some $2.2 million worth of Chainlink’s LINK, $1 million worth of Aave protocol’s AAVE, $2 million in Maker’s MKR and $3.4 million in ether (ETH) were sent to the Binance address, Nansen said.
FTX collapsed last November after CoinDesk published revelations concerning the state of its balance sheet. New CEO John J. Ray III has excoriated financial controls at the company, and founder Sam Bankman-Fried is on trial for criminal charges.
A debtors group is in control of bankruptcy proceedings and holds assets held by the two firms before they went bust.
Earlier in October, the group staked over $150 million worth of ether (ETH) and Solana's SOL tokens, where they may receive yields of up to 8% on those holdings.
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Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.