FTX & Alameda Transfer $14.4 Mln in Tokens Amid Debt Repayment

According to recent data portrayed by Spot On Chain, a platform simplifying blockchain data analytics and offering valuable insights, FTX and Alameda Research have transferred a whopping $14.4 million worth of tokens to centralized exchanges. These tokens include $MATIC, $BAND, $PERP, $TRU, $BICO, $KNC, $CVC, and $BOND, with MATIC, BAND, and PERP tokens amassing a total of $10.39 million as of today, October 28.

As of writing, FTX and Alameda have deposited almost $47.3 million worth of 20 different EVM ( Ethereum Virtual Machine) tokens to various exchanges. However, the amounts transferred seem negligible when compared to the amounts held by these crypto trading firms. As per data from Spot On Chain, FTX and Alameda Research still hold $736 million worth of EVM assets despite making substantial constant deposits to various exchanges over the past few days.

What’s More?

A series of transactions took place over the past few days by various addresses linked to FTX and Alameda. According to reports, the series of transactions originated on October 25, with numerous addresses such as 0xde9, FTX 0x97f, and Alameda 0xf02, transferring funds to CEXs like Binance and Coinbase. The tokens transferred included $ETH, $MKR, $AAVE, and $LINK, with a collective worth of a whopping $10.51 million.

Subsequently, FTX and Alameda research made constant transfers from October 25 till date.

As of October 26, the firms transferred 21,967 $COMP worth $1.01 million, along with 974,270 $RNDR, equivalent to $2.04 million, to Binance via Wintermute, a leading global algorithmic digital asset trading firm. Thereafter, as of October 27, the firms transferred another $6.5 million worth of $UNI, $DYDY, $SUSHI, and $LDO to two middle addresses with plans to transfer them to exchanges as soon as possible.

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FTX And Alameda Setting Sights On Paying Back Creditors

The recent reallocation of crypto funds comes in alignment with the firm’s contemporary plans to sell some of its digital assets to pay back creditors.

As of 2022, Alameda secretly used customer funds from FTX to pay back all the loans called as of summer 2022 without sounding any alarm bells. According to Bankman-Fried, as of November 2022, Alameda’s negative balance amounted to a whopping $10 billion following its decision to pay back creditors via FTX customer funds. Earlier this week, former CEO of FTX Sam Bankman-fried proclaimed in his testimony, that he believed taking FTX deposits was completely legal.

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