Token

Compound

Render

Solana

<p>Wallets associated with the collapsed FTX crypto exchange have transferred over $15 million worth of Solana (SOL) tokens, with a large portion sent to trading platforms Binance and Coinbase, according to on-chain data tracked by <a href="https://twitter.com/lookonchain/status/1717372363011174546" target="_blank" rel="noopener noreferrer nofollow">Lookonchain</a>.</p>
<p>Approximately $8.1 million in SOL was moved from FTX cold storage wallets to Binance, while another $2.6 million was shuffled to Coinbase. The transfers come after FTX wallets were detected offloading nearly $3 million in Render Token (RNDR) and Compound (COMP) tokens.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="452" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-655-1024x452.png" alt="" class="wp-image-363646" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-655-1024x452.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-655-300x133.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-655-767x339.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-655-1536x679.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-655-2048x905.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-655-340x150.png 340w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-655-100x44.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-655-792x350.png 792w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-655-788x348.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-655.png 679w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Lookonchain estimates FTX still holds around $3.4 billion in cryptocurrency assets based on previous tracking. The ongoing shuffling of funds has fueled speculation that FTX bankruptcy administrators may be liquidating holdings to raise capital.</p>
<p>However, the reasons behind the wallet movements remain unclear. FTX entered bankruptcy in November 2022 amid liquidity issues and allegations of misused customer funds that led to billions in losses.</p>
<p>Former FTX executives have claimed founder Sam Bankman-Fried secretly redirected customer assets to his trading firm Alameda Research. While FTX appears to retain a sizable crypto treasury, periodic transfers to exchanges like Binance and Coinbase signal that accessible coins are being converted to cash.</p>
<p>But some analysts caution against presuming too much, as the receiving venues may simply be providing custodial services for the embattled exchange.</p>
<p>Nonetheless, on-chain sleuths continue monitoring FTX wallets closely for clues on how assets are being handled during its ongoing bankruptcy proceedings. Any signs of liquidation generate intense scrutiny from market watchers.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/ftx-cold-storage-transfers-15200000-in-sol-to-exchanges-possible-sell-off/">FTX Cold Storage Transfers $15,200,000 in SOL to Exchanges: Possible Sell-Off?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

FTX Cold Storage Transfers $15,200,000 in SOL to Exchanges: Possible Sell-Off?

Table of Contents

CaptainAltcoin

Other articles published on Oct 26, 2023

Bitcoin Nears Historic ‘Golden Cross’ Milestone Following 30% Price Surge in 2 Weeks

GGAL Stock Price: Bulls Reclaimed the Support, What’s Ahead?

Crypto Sleuth Reveals Culprit Behind SIM Swaps

UK legislation on confiscating illegal crypto assets officially receives Royal Assent

Chainlink Price UP by +50%! Will Chainlink Reach 20$?

Sam Bankman-Fried to highlight FTX lawyers’ role in defense

Join our free newsletter for daily crypto updates!