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Blockchain analytics firm <a href="https://cryptoslate.com/companies/nansen/" rel="noopener noreferrer nofollow">Nansen</a> reported that wallets connected to bankrupt FTX have moved up to $156 million worth of digital assets, including Ethereum (<a href="https://cryptoslate.com/coins/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) and Solana (<a href="https://cryptoslate.com/coins/solana/" rel="noopener noreferrer nofollow">SOL</a>), in several transactions over the past week.
<h2 id="unstakes-solana">Unstakes Solana</h2>
In an Oct. 31 post on X (formerly Twitter), Nansen <a href="https://twitter.com/nansen_ai/status/1719292072447049903" rel="noopener noreferrer nofollow">reported</a> that FTX began unstaking 1.6 mill SOL tokens, worth approximately $57.6 million, on Oct. 30.
While the unstaked assets are currently held in the staking <a href="https://solscan.io/account/FLCQRP1ccyQJsW2QteykNWCMJp2U16tahBiJ3mAqRbL3" rel="noopener noreferrer nofollow">wallet</a>, FTX’s fund movement will increase the total SOL transferred to nearly $90 million.
Earlier in the month, <a href="http://cryptoslate.com/companies/ftx" rel="noopener noreferrer nofollow">FTX</a> liquidators <a href="https://cryptoslate.com/ftx-liquidators-stake-150m-in-ethereum-and-solana-tokens-during-weekend/" rel="noopener noreferrer nofollow">staked</a> approximately $120 million in <a href="http://cryptoslate.com/blockchain/solana" rel="noopener noreferrer nofollow">Solana tokens</a> through Figment, an institutional staking service provider. This move is anticipated to yield up to 7% return in staking rewards and is expected to help the bankrupt firm maximize its assets.
<h2 class="s3" id="span-class-s2-156m-transferred-span">$156M transferred</h2>
Nansen, while adding FTX’s recently unstaked <a href="http://cryptoslate.com/coins/solana" rel="noopener noreferrer nofollow">Solana</a> assets to the stream of transactions from the insolvent company to crypto exchanges like <a href="http://cryptoslate.com/companies/binance" rel="noopener noreferrer nofollow">Binance</a> and <a href="http://cryptoslate.com/companies/coinbase" rel="noopener noreferrer nofollow">Coinbase</a>, estimated a movement of approximately $156 million worth of digital assets.
According to Nansen’s analysis, the new wave of transactions included 1,100 ETH valued at $2 million, 10.5 million USDC, and 7.6 million Render tokens worth $500,000.
FTX also transferred 833,000 <a href="https://cryptoslate.com/coins/kyber-network-crystal-v2/" rel="noopener noreferrer nofollow">Kyber Network Crystal</a> (KNC) tokens, equivalent to $616,000, and 108 million TRUE tokens worth $420,000. Further assets included 138,000 <a href="https://cryptoslate.com/coins/band-protocol/" rel="noopener noreferrer nofollow">Band Protocol tokens</a> valued at $221,000, 2.5 million <a href="https://cryptoslate.com/coins/the-graph/" rel="noopener noreferrer nofollow">The Graph</a> tokens equivalent to $273,000, 845 Maker tokens valued at $1.17 million, and 9.5 million REN tokens worth $500,000.
Additionally, there were 695,000 <a href="https://cryptoslate.com/coins/perpetual-protocol/" rel="noopener noreferrer nofollow">Perpetual Protocol Tokens</a> valued at $423,000, 767,000 <a href="https://cryptoslate.com/coins/biconomy/" rel="noopener noreferrer nofollow">Biconomy Tokens</a> worth $182,000, and 23,000 Polygon tokens worth $15,000.
<h2 id="ftx-claims-value-rise">FTX claims value rise</h2>
Prices for FTX claims increased following <a href="https://cryptoslate.com/ftx-creditors-hope-googles-potential-2b-investment-in-anthropic-will-boost-recovery-prospects/" rel="noopener noreferrer nofollow">reports</a> of a $2 billion investment by Google in the artificial intelligence startup <a href="https://cryptoslate.com/companies/anthropic/" rel="noopener noreferrer nofollow">Anthropic</a>.
Ikigai hedge fund manager <a href="https://cryptoslate.com/people/travis-kling/" rel="noopener noreferrer nofollow">Travis Kling</a> <a href="https://x.com/Travis_Kling/status/1717997154428445034?s=20" rel="noopener noreferrer nofollow">posited</a> that the investment had driven “FTX bankruptcy pretty close to a full recovery.”
In an interview with CryptoSlate, Thomas Braziel, an expert on FTX claims at 117 Partners, urged creditors to remain cautious. This was reiterated in a <a href="https://twitter.com/ThomasBraziel/status/1717998020682276997" rel="noopener noreferrer nofollow">post</a> on X (formerly Twitter), where he highlighted that there was no valuation mentioned in the Google-Anthropic investment, adding that:
<blockquote>
 “Great to see this news tonight but the bankruptcy still have a big road ahead of it.”
</blockquote>
<a href="https://claims-market.com/" rel="noopener noreferrer nofollow">Data</a> from Cherokee Acquisition shows that the claim’s value has risen to between 50 and 53 cents on the dollar as of press time.
The post <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com/bankrupt-ftx-moves-156m-worth-of-assets-including-ethereum-and-solana/">Bankrupt FTX moves $156M worth of assets including Ethereum and Solana</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptoslate.com">CryptoSlate</a>.

Bankrupt FTX moves $156M worth of assets including Ethereum and Solana

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