FTX and Alameda Research Transfers $13.6M to Binance: These Cryptos Are Concerned

According to Spot On Chain, addresses related to FTX and Alameda transferred $13.6 million to Binance and Coinbase on November 1.

This development comes as Sam Bankman-Fried’s case continues on allegations of fraud and money misuse, among others.

Massive Deposits of EVM Tokens Continue

FTX deposited $8.12 million worth of three assets to Coinbase earlier today, which includes $4.85 million worth of 46.5 million GRT, $2.3 million worth of 972,073 RNDR, and $967,000 worth of 708.1 MKR.

🚨🚨 #FTX deposited $8.12M worth of 3 assets to #Coinbase ~3hrs ago, including:

46.5M $GRT ($4.85M)

972,073 $RNDR ($2.3M)

708.1 $MKR ($967K)

As of Nov 1, 2023, #FTX and #Alameda Research have deposited a total of ~$78.1M worth of 22 #EVM tokens to exchanges.

They still hold… pic.twitter.com/VccnXjB6ab

— Spot On Chain (@spotonchain) November 1, 2023

After three hours, additional deposits totaling $5.49 million were made. The top three assets in this round were 1.14 million DYDX worth $2.64 million, $1.05 million worth 192,888 AXS, and $522,000 worth of 5,858 AAVE.

According to Spot On Chain, FTX and Alameda Research have deposited approximately $83.6 million worth of 26 EVM tokens to exchanges.

In September, a court ruling granted FTX the authority to sell, stake, and take preventive measures to mitigate risks associated with their assets. As a result, FTX had control over roughly $3.4 billion, leading to these significant money transfers.

FTX and Alameda Research’s Strategic Fund Transfers

This recent series of transfers doesn’t appear to be an isolated event; instead, it seems part of an ongoing pattern. On October 31, the investment fund uted a transfer of $19.5 million in assets, which included GRT, MKR, and RNDR, directed towards Coinbase.

A few days before, FTX sent approximately $8.6 million worth of cryptocurrency assets to the same exchange.

On October 25, addresses associated with FTX also uted transfers amounting to $10.49 million in ious assets. Analysis from Arkham Intelligence suggested that these transfers indicate FTX’s exploration of investment diversification strategies.

The data analysis further indicated that the substantial deposits linked to FTX predominantly consist of notable amounts of Ethereum (ETH), Maker (MKR), Chainlink (LINK), and Aave (AAVE). Their analysts observed significant movements of cryptocurrencies between wallets associated with Alameda, FTX, Binance, and Coinbase leading up to this report.

Notably, FTX and Alameda have also uted transfers of $170 million in cryptocurrencies, including assets like SOL, ETH, and MATIC, to ious staking pools. With FTX’s extensive crypto holdings valued at $3.4 billion, the platform remains actively seeking investment opportunities. However, it’s worth noting that ongoing legal disputes persist between regulatory bodies, FTX, its founder, and former management.