FTX, Alameda moved more than $13 million in altcoins; know details

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The crypto wallets related to FTX and its sister trading firm that goes by the nameAlameda Research have transferred over $13 million in multiple altcoins to numerous cryptoexchanges on November 1, 2023. A report by Spotonchain suggested that FTX wallet firstinitiated a transaction of $8.12 million worth of altcoins to Coinbase. The assets comprise46.5 million GRT, 972,023 RNDR, and 708.1 MKR.Right after that, the wallet address of FTX and Alameda Research kicked off anothertransaction of $5.49 million to Binance and Coinbase. The top three assets of thistransaction were 1.14 million DYDX, 192,888 AXS, and 5858 AAVE. Previously, cryptoanalysis firm Nansen also highlighted this kind of FTX transactions in the past few weeks,which included millions of dollars in cryptocurrency.According to the reports shared by Nansen, the first batch of transactions included $8.1million worth of altcoins. On the other hand, there was reportedly another transaction thatwas of around $24.3 million in altcoins to Coinbase and Binance. All the data collected bySpotonchain says that a total of $78 million in assets have already been transferred to cryptoexchanges from Alameda and FTA wallets in the past week.This started happening in response to the court order that allowed FTA to sell digital assetsworth $3 billion via an investment advisor. The court order also mentioned that the weeklybatches will go according to the pre-established norms.The procedure will let FTX sell $50 million worth of assets on a weekly basis. Thetransactions have a $100 million cap in the upcoming weeks. Nonetheless, the cap could beincreased to $200 million per week with the already written consent of the committee ofcreditors and the ad hoc committee once the court approves it.

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