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<p>The post <a href="https://coinpedia.org/news/ftx-and-alamedas-38-8-million-transfer-strategy-for-repayment-or-cause-for-concern/">FTX &amp; Alameda: $38.8 Million Transfer Fuels Repayment Doubts</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>This is the intriguing world of cryptocurrency, where a 37-day saga involving $38 million and two key players, <a href="https://coinpedia.org/news/whos-behind-the-400-million-ftx-hack-truth-revealed/">FTX exchange</a> and Alameda Research, has unfolded. This is the inside scoop on the real crypto drama that’s been keeping enthusiasts on the edge of their seats.</p> 
<p>Let’s dive in, shall we?</p> 
<h2 class="wp-block-heading" id="h-the-million-dollar-moves"><strong>The Million-Dollar Moves</strong></h2> 
<p>In 2024, FTX and its sibling, Alameda Research, orchestrated a significant shuffle, transferring $38.8 million in digital assets across seven exchanges. Amidst <a href="https://coinpedia.org/news/ftx-seeks-to-sell-175m-claim-against-genesis-in-debt-settlement-move/">FTX’s restructuring efforts</a>, questions arise about its plan to repay customers, especially after some controversial wallet moves.</p> 
<p>Blockchain analytics firm PeckShield sheds light on the wallet maneuvers. In February alone, these wallets made moves totaling at least $7 million, including notable transactions like $2.6 million in Ether to Coinbase and $1.1 million in Ton and Fantom to FalconX and Wintermute.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw">#PeckShieldAlert</a> <a href="https://twitter.com/hashtag/FTX?src=hash&amp;ref_src=twsrc%5Etfw">#FTX</a>/<a href="https://twitter.com/hashtag/Alameda?src=hash&amp;ref_src=twsrc%5Etfw">#Alameda</a> addresses transferred 1.15K <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> (worth ~$2.66M) to <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw">#Coinbase</a>, 499.5K <a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TON</a> (worth ~$1m) and 158.3K <a href="https://twitter.com/search?q=%24FTM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FTM</a> (worth ~$56.88K) to <a href="https://twitter.com/hashtag/FalconX?src=hash&amp;ref_src=twsrc%5Etfw">#FalconX</a> &amp; <a href="https://twitter.com/hashtag/wintermute?src=hash&amp;ref_src=twsrc%5Etfw">#wintermute</a> <a href="https://t.co/ihJbkPpPtU">pic.twitter.com/ihJbkPpPtU</a></p>— PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1753962816258933186?ref_src=twsrc%5Etfw">February 4, 2024</a>
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<p>On February 6, crypto wallets shifted at least $3.3 million to major exchanges like Coinbase, Coinbase Prime, FalconX, and Binance. The big question remains: What’s the strategic play behind these moves?</p> 
<p>Also Read: <a href="https://coinpedia.org/news/ftx-seeks-to-sell-175m-claim-against-genesis-in-debt-settlement-move/">FTX Plans to Sell $175M Claim Against Genesis to Repay Customers</a></p> 
<p><strong>Echoes from January</strong></p> 
<p>Before the February drama, January witnessed wallets moving around $35 million to exchanges. Key transfers included $4.1 million in <a href="https://x.com/PeckShieldAlert/status/1744545169515610604?s=20">Cronos</a> to Coinbase and a whopping $9 million worth of Wrapped BTC to Binance. All of this unfolded against the backdrop of FTX’s restructuring and commitment to customer repayment.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw">#PeckShieldAlert</a> <a href="https://twitter.com/hashtag/FTX?src=hash&amp;ref_src=twsrc%5Etfw">#FTX</a>/<a href="https://twitter.com/hashtag/Alameda?src=hash&amp;ref_src=twsrc%5Etfw">#Alameda</a>-labeled addresses have transferred ~44.1M <a href="https://twitter.com/search?q=%24CRO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$CRO</a> (worth ~$4.1M) to <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw">#Coinbase</a> <a href="https://t.co/wh81jhRr41">pic.twitter.com/wh81jhRr41</a></p>— PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1742730488408936617?ref_src=twsrc%5Etfw">January 4, 2024</a>
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<h2 class="wp-block-heading" id="h-critics-cry-foul-robbery-or-redemption"><strong>Critics Cry Foul: Robbery or Redemption?</strong></h2> 
<p>Examining the timing reveals a crucial connection. The fund transfers align with FTX’s restructuring efforts and its promise to fully reimburse customers. However, during a U.S. court hearing on January 31, FTX’s plans faced scrutiny. While customer repayment is a goal, FTX’s attorney, Andy Dietderich, clarified it’s not a guaranteed outcome.</p> 
<p>Skepticism emerged after a court hearing where FTX expressed intentions to repay customers without relaunching the exchange. Critics, including former SEC official John Reed Stark, labeled the plan as “highway robbery of highway robbers,” raising concerns about the legal team’s gains.</p> 
<p>Read More: <a href="https://coinpedia.org/news/ftxs-big-promise-guarantees-to-pay-back-customers-completely-ditches-exchange-revival-plan/">FTX Revival Plan Tanked, Creditor Payback Promised: What Next for FTT’s Price?</a></p> 
<p><strong>This $38 million shuffle reveals twists and turns that beg further exploration. Stay tuned for more updates from Coinpedia.</strong></p>

FTX & Alameda: $38.8 Million Transfer Fuels Repayment Doubts

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