Lookonchain, a respected blockchain analysis firm, recently revealed that cryptocurrency giants FTX and Alameda Research are once again on the move, orchestrating a significant transfer of digital assets totaling a whopping $22 million. The mix includes various cryptocurrencies like $IMX, $GMT, $ETH, UNI, $SHIB, $BAL, $LOOKS, and $WOO.
What’s brewing? Read on!
Breaking Down the Crypto Mix
The Lookonchain tweet detailed the assets moved in this transaction:
- 6.26M $IMX, valued at $9.12M
- 20M $GMT, worth $5.29M
- 1,643 $ETH, totaling $3.43M
- 441,425 UNI, equating to $2.69M
- 77.77B $SHIB, amounting to $652K
- 102,651 $BAL, valued at $389K
- 2.24M $LOOKS, worth $261K
- 801,893 $WOO, totaling $179K
This diverse array of cryptocurrencies highlights FTX and Alameda’s extensive holdings across the digital asset spectrum.
Also Read: FTX and Alameda Liquidate $10.8 Million in Crypto to Binance, Coinbase, and Wintermute
FTX and Alameda’s Moves
Since declaring bankruptcy, FTX and Alameda Research have been navigating the crypto landscape, transferring substantial sums to major exchanges. Since October 2023, they’ve executed mind-boggling moves, totaling $551 million across 59 different tokens. Their latest performance, a transfer of $10.8 million, unfolded on the stages of Wintermute, Binance, and Coinbase.
On November 14, 2023, another crescendo echoed as $24 million in crypto assets resonated through Kraken and OKX exchanges. A U.S. court-approved plan now grants them the power to sell digital assets weekly, up to $100 million, with the potential to increase to $200 million, subject to special committee approval.
The initial notes of this financial symphony played in March 2023 when $145 million in stablecoins were deftly moved to platforms like Coinbase, Binance, and Kraken.
A Massive Balancing Act
Despite reclaiming over $5 billion in assets, FTX faces a daunting reality with liabilities exceeding $8.8 billion. This stark financial distress is laid bare as FTX and Alameda’s ongoing liquidations unfold, signaling a titanic struggle to settle massive debts while offering a glimmer of relief to creditors.
Also Read: FTX’s Potential Relaunch: Implications for FTT Token Investors
The final notes of this liquidation saga remain shrouded in uncertainty, leaving the crypto community eagerly awaiting the resolution of this financial symphony.
Source: https://coinpedia.org/news/ftx-and-alamedas-ongoing-crypto-asset-liquidation-22-million-transferred/