FTX Deposits 22 Million Crypto Assets onto Exchanges

FTX and Alameda Research continue to bring large amounts of cryptocurrency to the exchange, implementing a court-approved asset liquidation plan.

Ftx Deposits 22 Million Crypto Assets Onto Exchanges_65b97a337e0f3.webp

According to information from Lookonchain’s “intelligence”, wallets owned by FTX and Alameda Research actively transferred large amounts of money to central exchanges (CEX) on the morning of December 2. Total value is up to 22 million USD, including tokens such as IMX, GMT, ETH, UNI, SHIB, BAL, LOOKS and WOO.

Today #FTX/#Alameda transferred ~$22M assets again, including:

6.26M $IMX($9.12M)
20M $GMT($5.29M)
1,643 $ETH($3.43M)
441,425 UNI($2.69M)
77.77B $SHIB($652K)
102,651 $BAL($389K)
2.24M $LOOKS($261K)
801,893 $WOO($179K) pic.twitter.com/VUqWBiNj5G

— Lookonchain (@lookonchain) December 2, 2023

After declaring bankruptcy, FTX and Alameda Research received court approval for a $3.4 billion asset liquidation plan, with a payment limit of $100 to $200 million per week. These transactions are carried out secretly and not publicly, but it is mandatory to notify the court and creditors 10 days in advance.

ftx deposits 22 million crypto assets onto

From October 2023 until now, the company has made many notable transactions, accumulating a value of up to 551 million USD through 59 different tokens. FTX has committed to refunding 90% of the value requested by FTX users.

In the most recent transaction on December 1, FTX transferred $10.8 million worth of cryptocurrency to Binance, Coinbase and Wintermute, spanning 8 different tokens, including StepN (GMT), Uniswap (UNI ), Synapse (SYN), Klaytn (KLAY), Fantom (FTM), Shiba Inu (SHIB), Arbitrum (ARB) and Optimism (OP).

Recently, the court approved FTX to sell $873 million in treasury shares of Grayscale and Bitwise. To earn more money to repay debt, the exchange put more than 160 million USD worth of SOL, ETH and MATIC into staking. FTX is also considering 3 proposals to resell the exchange, including the option of abandoning the entire trading platform and looking for partners to restart the exchange.

Related: Prosecutors Evoke FTX Founder Sam Bankman-Fried’s Statements to Undermine His Defense

Even after recovering $5 billion in assets, FTX is still facing a debt of up to $8.8 billion. Meanwhile, the “old hero” will have to face court to receive his sentence in March next year, and before that was a life sentence.


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