FTX Liquidator Transfers RAY Worth Millions To Binance

Key Points:

• FTX Liquidator transfers RAY worth $3.79M to Binance Deposit.
• FTX-linked addresses still hold 6.466M RAY valued at $38.73M.

FTX Liquidator Transfers RAY worth $3.79M to Binance Deposit after receiving 1.853M RAY from an unmarked address; 6.466M RAY remains in FTX-linked wallets.

FTX Liquidator Transfers RAY to Binance Deposit

The FTX liquidator received 1.853 million RAY, worth about $11.04 million, from an unmarked address at 3:26 UTC+8 today. Shortly after, some 635,000 RAY, valued at $3.79 million, had been moved to a Binance Deposit address, which attests to active liquidation activity by FTX-linked entities.

These transactions signal the continued liquidation by FTX management in pursuit of recovering and redistributing the funds. Using major exchanges like Binance, the liquidator is inching his way to plug the wide financial gaps left by the collapse of the platform, though significant reserves remain unutilized, according to Arkham.

Read more: Former FTX Executive May Not Go to Jail for Positive Collaboration

FTX Wallets Retain Millions in RAY Tokens

With all of the action as of late, FTX-associated addresses continue to maintain a sizeable store of RAY tokens at 6.466 million valued at $38.73 million. The latter is also a very big reserve that has many questioning what can happen by the use or liquidation of those assets in recovery efforts.

The fact that these reserves have been retained underlines the extent of funds yet to be processed following the collapse of FTX. While some RAY tokens are being actively liquidated, the substantial remaining reserves might continue to have an impact on market dynamics as they slowly get distributed.