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 A court-ordered liquidation process allows FTX to sell nearly $3.4 billion worth of crypto assets in weekly batches starting from $50 million a week.
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 The <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a>s linked to now-defunct <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a> FTX and its sister trading firm Alameda Research have sent over $13 million in different altcoins to numerous <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="exchanges" href="https://thebittimes.com/tag/exchanges.html">exchanges</a> early on Nov. 1.
 According to data from on-chain analysis firm Spotonchain, the FTX wallet first transferred $8.12 million worth of altcoins to Coinbase. The assets include 46.5 million GRT ($4.85 million), 972,073 RNDR ($2.3 million), and 708.1 MKR ($967,000).
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 <figcaption style="text-align: center;">FTX and Alameda linked crypto deposit on Coinbase. Source: SOC
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 The wallet addresses of FTX and Alameda Research made another $5.49 million transfer after three hours to Binance and Coinbase. The top 3 assets with the highest value in this transaction include 1.14 million DYDX ($2.64 million), 192,888 AXS ($1.05 million), and 5,858 AAVE ($522,000).
 <blockquote class="twitter-tweet">
 #FTX and #Alameda Research further deposited $5.49M worth of 6 assets $AAVE, $ALICE $AXS, #C98, $DYDX, $ZRX, to #Binance and #Coinbase ~30 mins ago. Top 3 include: 1.14M $DYDX ($2.64M) 192,888 $AXS ($1.05M) 5,858 $AAVE ($522K) Overall, #FTX and #Alameda Research have… https://t.co/Rw0PnalH6G pic.twitter.com/JPbIXZJPzv— Spot On Chain (@spotonchain) November 1, 2023
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 Related: FTX’s Sam Bankman-Fried will testify at criminal trial, say defense lawyers
 Prior to the $13.1 million funds movement on Nov.1, crypto analytic firm Nansen has flagged several FTX-linked wallet movements over the past week, which saw the deposit of millions in various cryptocurrencies on different crypto exchanges. First, a batch of $8.1 million worth of altcoins was moved to Binance; Nansen estimated that another $24.3 million worth of assets that have left wallets linked to FTX and Alameda were deposited into Binance and Coinbase.
 <blockquote class="twitter-tweet">
 Separate from the initial $8.6M moved: - 2.2M USD LINK - 1M USD AAVE - 2M USD MKR - 3.4M USD ETH We have discovered a further $24.3M that has left wallets linked to FTX and Alameda which has been deposited into Binance and Coinbase But that's not all... pic.twitter.com/Dru4MysxfQ— Nansen (@nansen_ai) October 27, 2023
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 On Oct. 31, FTX linked 1.6 million Solana (SOL) tokens worth $56 million that were unstacked and sent to an unknown <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a>. Another 930,000 SOL worth $32 million linked to FTX and Alameda were moved to another unknown <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a> speculated to be linked to Galaxy Digital, the official firm designated for the liquidation process.
 <blockquote class="twitter-tweet">
 930k $SOL moves from @FTX_Official and @AlamedaResearch Solana <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a>s over last 3 days to <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a> 5RAHK. Is this @novogratz <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a> at @galaxyhq Galaxy Investment Partners? 930k $SOL from FTX and Alameda passed through this <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a> to <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a>s: -3ADzk -5sTQ5 -Ca469 -8CAAy… pic.twitter.com/LXecevHUqz— MartyParty (@martypartymusic) October 31, 2023
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 Data aggregated by Spotonchain suggests a total of $78 million worth of assets have been sent to crypto exchanges from FTX and Alameda wallet over the past week.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/01/440997c07154d259937f12faad490341.webp">
 <figcaption style="text-align: center;">Total crypto assets sent to exchanges by FTX. Source: SOC
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 FTX-linked wallets have continued to send their stash of altcoins to crypto exchanges over the past month after a court-ordered phased-out liquidation process. The court order permits FTX to sell digital assets worth over $3 billion through an investment adviser in weekly batches in accordance with the pre-established rule.
 The phased-out liquidation process would allow FTX to sell $50 million worth of assets weekly, followed by a $100 million cap in the succeeding weeks. The cap can be increased up to $200 million per week with the previous written consent of the creditors’ committee and ad hoc committee after court approval.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ftx-and-alameda-research-wallets-send-13-1m-in-crypto-to-exchanges-overnight-tbt68623.html">https://thebittimes.com/ftx-and-alameda-research-wallets-send-13-1m-in-crypto-to-exchanges-overnight-tbt68623.html</a>

FTX and Alameda Research wallets send $13.1M in crypto to exchanges overnight

TheBitTimes

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