Crypto wallets associated with the collapsed FTX exchange have been spotted moving over $100 million to major exchanges.
According to the blockchain-tracking firm Lookonchain, three addresses related to FTX and its trading arm Alameda are making millions of dollars worth of stablecoin transfers.
“The 3 addresses related to FTX/Alameda transferred 69.64M USDT to the address ‘0xad6e’, among which 43M USDT was transferred to Coinbase, Binance and Kraken.
And transferred 75.94M USDC to Coinbase Custody Wallet.”
Lookonchain says the three addresses sent $69,640,000 worth of Tether (USDT) to one address, “0xad6e.” Then, $43,000,000 worth of that USDT was sent to top crypto exchanges Coinbase, Binance, and Kraken. Finally, $75,940,000 worth of Circle’s stablecoin, US Dollar Coin (USDC), was sent to a Coinbase Custody wallet.
Lookonchain also further clarifies the importance of these three wallets in the wake of 2022’s massive FTX crash.
“After the FTX/Alameda crash, all assets were collected at these 3 addresses…”
FTX filed for bankruptcy last November after its native asset collapsed, and it was forced to halt customer withdrawals. Former FTX CEO Sam Bankman-Fried is facing 115 years in prison after being accused of defrauding investors and mishandling customer assets.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/mystel