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FTX, Alameda Wallets Move More Than $78 Million in Crypto to Exchanges: Spotonchain

The tokens were moved to Binance and Coinbase overnight in accordance with a bankruptcy court order allowing the sale of some FTX assets, data from Spotonchain show.

By Sandali Handagama
AccessTimeIconNov 1, 2023 at 1:00 p.m. UTC
Updated Nov 1, 2023 at 4:30 p.m. UTC
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Millions of dollars worth of crypto assets have been moved out of official wallets linked to FTX and its trading firm, Alameda, in the past 24 hours, according to Spotonchain, as the bankrupt exchange labors under court supervision to salvage value and maximize its token holdings.

More than $13 million worth of crypto tokens were moved to exchange platforms Binance and Coinbase from wallets linked to the two firms since midnight UTC, Spotonchain said. The tokens moved include (DYDX), (AAVE) and Axie Infinity’s (AXS).

A further 1.6 million solana (SOL) tokens ($65 million) have been unstaked by FTX's cold storage wallet, with 1.2 million tokens being sent to exchanges over the past week, data from Solana's block explorer shows.

The transfers follow a September court order that allows the bankruptcy estate to sell, stake and hedge crypto holdings worth over $3.4 billion. Last week, around $19 million in solana (SOL) and ether (ETH) were moved from wallets to crypto exchanges.

Read more: FTX Cold Wallets Move $19M in Solana, Ether to Crypto Exchanges

A Spotonchain post on X, formerly Twitter, dated Oct. 31 shows a further $19.5 million in various tokens were deposited to Coinbase. Peckshield also reported movements on Oct. 31, saying the wallets were labeled as belonging to FTX or Alameda.

FTX's bankruptcy proceedings continue in Delaware while its founder, Sam Bankman-Fried, faces a criminal fraud trial in New York.

UPDATE (Nov. 1, 16:30 UTC): Updates headline, adds paragraph on FTX unstaking solana.

Edited by Sheldon Reback.


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Sandali Handagama
Sandali Handagama

Sandali Handagama is CoinDesk's deputy managing editor for policy and regulations, EMEA. She does not own any crypto.

Follow @iamsandali on Twitter

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