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.

AccessTimeIconNov 1, 2023 at 1:00 p.m. UTC
Updated Nov 1, 2023 at 4:30 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.

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.


Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Sandali Handagama

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


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.