NewsletterFTX Moves Solana (SOL) Worth $15 Million From Cold Wallet
An FTX cold storage-labeled address on Solana recently transferred a whopping 470k SOL tokens amounting to $15 million, PeckShieldAlert reported on October 26. Some of the funds withdrawn were sent to centralized exchanges (CEX) such as Binance and Coinbase.
In addition to this, another FTX cold storage-labeled address on Ethereum recently transferred $2.5 million worth of cryptocurrencies, such as $COMP and $RNDN to Wintermute, a leading global algorithmic trading firm dealing in digital assets.
FTX Moves Crypto Such as Solana To Exchanges
As of writing, Wintermute Trading received more than $10.49 million in crypto transfers solely from FTX-related addresses. The funds were mostly deposited into Wintermute’s deposit addresses via centralized exchanges such as Binance and Coinbase. The transfers made encompassed cryptocurrencies such as ETH, MKR, LINK, AAVE, COMP, and RNDN.
The deposits seem to come in alignment with the recent price surge witnessed by cryptocurrencies such as ETH, SOL, LINK, and AAVE, among others, with SOL witnessing a staggering 5.55% in the last 24 hours.
Also Read: ADA Price Rally: Cardano On the Way to $1 Amid Current Developments
FTX Re-Embarking Its Crypto Venture
FTX went bankrupt the previous year due to a liquidity crisis of the company’s token FTT, creating quite a buzz in the crypto realm.
Following the collapse of FTX, presently a bankrupt cryptocurrency exchange, the firm stated that it shifted all remaining funds to cold wallets to mitigate losses, following a series of unauthorized transactions. Subsequently, the firm made further advancements, eyeing the revival of the exchange.
Earlier this year, the newly appointed CEO of FTX, John J. Ray III, stated that the bankruptcy administrators have proposed a new plan, seeking the revival of the exchange. The exchange made further advancements gradually, recently announcing plans to eye bidders for its revival as it aims to emerge with a concrete plan by December this year.
Also Read: Elon Musk And Crypto Community Comments On X’s Audio & Video Calling Feature
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