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<p>The post <a rel="nofollow" href="https://coinpedia.org/news/crypto-assets-worth-59-million-transferred-by-ftx-alameda-amid-legal-battles/">Crypto Assets Worth $59 Million Transferred by FTX &amp; Alameda Amid Legal Battles</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>According to the latest Lookonchain tweet series, the embattled firms FTX &amp; Alameda have recently transferred around $59 million in crypto assets. The timing of these massive movements has market spectators questioning whether this is related to the ongoing legal battles and possible intent to liquidate assets.</p> 
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   <p lang="en" dir="ltr">1/ As of Oct 27, FTX/Alameda had transferred a total of $59M in crypto assets, including:<br><br>787K <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($25.4M)<br>4,858 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($8.7M)<br>532K <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a>($5.8M)<br>7.8M <a href="https://twitter.com/search?q=%24MATIC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MATIC</a>($4.9M)<br>1.09M <a href="https://twitter.com/search?q=%24DYDX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DYDX</a>($2.5M)<br>974K <a href="https://twitter.com/search?q=%24RNDR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RNDR</a>($2M)<br>488K <a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$UNI</a>($2M)<br>1.09M <a href="https://twitter.com/search?q=%24LDO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LDO</a>($2M)<br>1,341 <a href="https://twitter.com/search?q=%24MKR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MKR</a>($1.9M)<br>1.6M <a href="https://twitter.com/search?q=%24AGLD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AGLD</a>($1.3M)<br>… <a href="https://t.co/WdttkrhzwP">pic.twitter.com/WdttkrhzwP</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1717757106252820939?ref_src=twsrc%5Etfw">October 27, 2023</a>
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<p>In a sweeping review, Lookonchain divulged that FTX and Alameda Research moved a massive $59 million across various cryptocurrencies:</p> 
<ul> 
 <li>787K $SOL ($25.4M)</li> 
 <li>4,858 $ETH ($8.7M)</li> 
 <li>532K $LINK ($5.8M)</li> 
 <li>7.8M $MATIC ($4.9M)</li> 
 <li>1.09M $DYDX ($2.5M)</li> 
</ul> 
<p>Furthermore, eight addresses linked to FTX/Alameda, which have recently sold assets, hold an estimated $619 million in crypto. These holdings include substantial amounts of $ETH, $FTT, $WLD, and $MATIC.</p> 
<p>Importantly, Lookonchain also pointed out that wallets linked to these firms sent a staggering $10 million worth of crypto to exchanges like Binance and Coinbase within just five hours.</p> 
<p>In a corroborative note, blockchain analytics firm Spot On Chain confirmed the $10 million transfers to Binance and Coinbase. Typically, such large transfers to exchanges are seen as precursors to a sale, which may affect the market gravely. Given the firms’ recent bankruptcy announcements, it’s plausible that they are preparing to sell assets to satisfy creditors.</p> 
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/FTX?src=hash&amp;ref_src=twsrc%5Etfw">#FTX</a> and <a href="https://twitter.com/hashtag/Alameda?src=hash&amp;ref_src=twsrc%5Etfw">#Alameda</a> related addresses are depositing tokens to exchanges!<br><br>Via address 0xde9, <a href="https://twitter.com/hashtag/FTX?src=hash&amp;ref_src=twsrc%5Etfw">#FTX</a> 0x97f and <a href="https://twitter.com/hashtag/Alameda?src=hash&amp;ref_src=twsrc%5Etfw">#Alameda</a> 0xf02 have transferred <br><br>2,904 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> ($5.21M)<br>1,341 <a href="https://twitter.com/search?q=%24MKR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MKR</a> ($2.01M)<br>11,975 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a> ($1.02M)<br>198,807 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> ($2.27M) <br><br>to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a>&nbsp;and <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw">#Coinbase</a> in the past 5 hours.… <a href="https://t.co/MQxCySp8g0">pic.twitter.com/MQxCySp8g0</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1717004746043830470?ref_src=twsrc%5Etfw">October 25, 2023</a>
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<h2 class="wp-block-heading" id="h-legal-complications-the-sbf-angle"><strong>Legal Complications: The SBF Angle</strong></h2> 
<p>Meanwhile, former FTX CEO Sam Bankman-Fried is neck-deep in legal turmoil, facing seven charges, including fraud and money laundering. The case unfolded for four weeks, revealing <a href="https://coinpedia.org/news/sam-bankman-fried-trial-defense-seeks-dismissal-of-charges/">solid evidence against SBF and FTX</a>. Despite these serious accusations, SBF maintains his innocence, and his legal team argues that there was no intent to steal customer funds.</p> 
<p>The Lookonchain revelations couldn’t come at a more critical time, adding another layer of complexity to the legal battles that FTX and Alameda Research face. The extensive details provided by Lookonchain offer market participants a unique lens through which to interpret these asset movements and assess the potential market impact.</p>

Crypto Assets Worth $59 Million Transferred by FTX & Alameda Amid Legal Battles

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