Markets
Share this article

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.

By Shaurya Malwa|Edited by Parikshit Mishra
Updated Oct 25, 2023, 2:50 p.m. Published Oct 25, 2023, 12:28 p.m.
(CoinDesk, modified)
(CoinDesk, modified)

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.

Latest News: Sam Bankman-Fried Will Take the Stand in His Own Defense

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.

btcETHFTXAlameda

More For You

Why Michael Saylor's Strategy decided to make STRC's dividend bi-monthly

By James Van Straten|Edited by Aoyon Ashraf
4 hours ago
Strategy Executive Chairman Michael Saylor on CoinDesk Television

Strategy aim to reduce volatility, enable consistent bitcoin buying, and create the only bi-monthly paying preferred shares in the market.

What to know:

  • Semi-monthly payouts are expected to reduce the typical post-ex-dividend price drop, lower volatility, and help keep STRC trading closer to its $100 par value.
  • More frequent distributions should reduce reinvestment lag and spread buying activity more evenly throughout the month, allowing Strategy to purchase bitcoin at a steadier pace while...
Read full story