FTX Moves Millions Worth of LINK, MATIC, AGLD to Coinbase as Sam Bankman-Fried Testifies

The latest transactions followed $19 million worth of crypto moved from FTX cold wallets to exchanges.

AccessTimeIconOct 26, 2023 at 7:04 p.m. UTC
Updated Oct 27, 2023 at 2:43 p.m. UTC

Bankrupt crypto exchange FTX moved another batch of crypto assets worth millions including Chainlink's LINK and Polygon's MATIC Thursday afternoon, blockchain data revealed.

Some $2.6 million in LINK and $1.3 million in adventure gold [AGLD] were deposited to Coinbase originated from FTX-related crypto wallets, on-chain sleuth Lookonchain noted in a X post.

AGLD tokens moved from FTX-related wallets to Coinbase (Arkham Intelligence)
AGLD tokens moved from FTX-related wallets to Coinbase (Arkham Intelligence)

Another $4.8 million in MATIC left an FTX wallet to an intermediary address, which then transferred a $1.8 million chunk of the tokens to Coinbase, blockchain analytics platform Arkham Intelligence data showed.

Earlier today, some $19 millions worth of crypto including solana (SOL) and ether (ETH) left FTX cold wallets and were deposited to exchanges.

The deposits potentially signal an intention to sell tokens. A U.S. bankruptcy court last month granted FTX permission to sell, stake and hedge its $3.4 billion worth digital asset stash after the company tapped Galaxy Digital to manage the token holdings.

The transactions happened as Sam Bankman-Fried, the founder of FTX and its sister trading firm Alameda Research, was scheduled to testify at his criminal trial Thursday afternoon.


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Krisztian  Sandor

Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.