Frax Share

Reserve Rights

Reserve

Over the course of four days, wallets connected to the now-defunct crypto trading firms, FTX and Alameda Research, orchestrated the movement of a staggering $23.59 million worth of digital assets onto some of the most prominent cryptocurrency exchanges. 
This revelation came to light thanks to the diligent work of blockchain analytics firm Spot On Chain, which uncovered that these defunct entities had been orchestrating a series of transfers amounting to a whopping $591 million since October 24th. 
Remarkably, these transfers involved a total of 59 different cryptocurrency tokens. 
In the latest wave of transfers linked to FTX wallets, the sum of $23.59 million was distributed across 19 tokens. 
Among these tokens, 3,150 Ether valued at $6.8 million, 59.6 million Aleph.im (ALEPH) worth $6.41 million, $2.48 million in Curve DAO (CRV) tokens, $990,000 in Avalanche, and $848,000 in Chainlink’s LINK were prominently featured. 
Intriguingly, this movement also encompassed $6.07 million in a diverse range of assets, including Pundi X (PUNDIX), Reserve Rights (RSR), Dogecoin, Bitcoin Cash, Chromia (CHR), Axie Infinity, Polygon’s MATIC, Uniswap, Orbs (ORBS), Frax Share (FXS), Polkadot, STEPN, 1inch (1INCH), and Solana. 
READ MORE: <a href="https://www.cryptointelligence.co.uk/bitcoin-rally-continues-but-concerns-about-pullback-loom/">Bitcoin Rally Continues But Concerns About Pullback Loom</a> 
These assets were subsequently funneled into major exchanges like Binance, Coinbase, OKX, and Galaxy Digital OTC. 
The financial maneuverings began on October 24th when both FTX and Alameda wallets initiated a $10 million transfer to a single wallet address, which was subsequently distributed to Binance and Coinbase accounts. 
A similar transaction took place on November 1st, involving $13.1 million being channeled into Binance and Coinbase accounts. 
This movement of funds has its origins in March when FTX and Alameda embarked on the journey to recover assets for their investors. 
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During that period, three wallets associated with FTX and Alameda Research shifted $145 million worth of stablecoins onto various platforms, including Coinbase, Binance, and Kraken. 
While these revelations demonstrate a significant recovery of over $5 billion in cash and liquid cryptocurrencies by the troubled cryptocurrency exchange, FTX, there is still a substantial outstanding liability of $3.8 billion that remains unresolved. 
The crypto world continues to watch closely as the intricate web of financial transactions unfolds. 
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Defunct Crypto Firms FTX and Alameda Move $23.59 Million in Digital Assets to Top Exchanges

Crypto Intelligence

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