FTX and Alameda Research Transfer SOL, ETH, RNDR, and MKR Assets!

• According to data from Lookonchain, FTX and Alameda Research have transferred assets worth $27.2 million as of October 31.
• As of the time of writing, FTX and Alameda Research have transferred a total of $106 million worth of crypto assets.
• Throughout 2022, Alameda accessed customer funds within FTX quietly with the aim of repaying loans that needed to be repaid without raising suspicion.

According to the latest information, FTX and Alameda Research have begun transferring crypto assets once again. What assets are being transferred?

FTX and Alameda Transfer Crypto Assets

According to recent data, as shown by Lookonchain, one of the world’s leading data analytics platforms, FTX and Alameda Research have transferred assets worth $27.2 million as of October 31.

Among these assets were RNDR worth $17.93 million, SOL worth $4.7 million, ETH worth $2 million, and MKR worth $1.18 million. Additionally, other various crypto assets like REN worth $1.12 million and GRT worth $0.27 million were transferred to Coinbase.

As of the time of writing, FTX and Alameda Research have transferred a total of $106 million worth of crypto assets. These transfers may seem insignificant considering the substantial assets of these crypto trading firms. According to Spot On Chain data, despite continuously depositing large amounts to different exchanges in recent days, FTX and Alameda Research continue to hold $736 million worth of Ethereum Virtual Machine (EVM) assets.

In recent days, a series of transactions took place between various addresses associated with FTX and Alameda. According to the report, these transactions began on October 25, with various addresses like 0xde9, FTX 0x97f, and Alameda 0xf02 transferring funds to centralized exchanges like Binance and Coinbase. Subsequently, both organizations have consistently made transfers since October 25, as the data indicates.

Earlier this month, FTX and Alameda transferred 21,967 COMP worth $1.01 million and 974,270 RNDR worth $2.04 million to Binance through the leading global algorithmic digital asset trading firm Wintermute. The companies then moved a total of $6.5 million worth of assets, including UNI, DYDY, SUSHI, and LDO, to intermediary addresses and quickly sent them to exchanges.

FTX and Alameda Aiming to Repay Customers

The recent reshuffling of the firm’s crypto funds reflects an intention to liquidate specific digital assets as part of the strategy to repay outstanding debts to creditors.

Throughout 2022, Alameda quietly accessed customer funds within FTX with the aim of repaying loans that needed to be repaid without raising suspicion. By November 2022, Alameda’s debt had reached a substantial figure exceeding $10 billion, a result of the approach to repay creditors using FTX customer assets.