Crypto News – During the course of a 24-hour spike in the overall cryptocurrency market, digital assets worth over $8 million have been transferred through crypto wallets connected to the now-defunct FTX exchange and Alameda Research.
Bankrupt FTX and Alameda’s $8 Million in Assets Moved
These companies moved 2,000 Ethereum units, valued at about $6.36 million, to Coinbase and 163,727 PROM tokens, valued at approximately $2.04 million, to Binance earlier today, February 27, according to blockchain analytics firm SpotOnChain.
According to some observers, these trades could be an attempt by the faltering corporation to capitalize on the growing token values. Despite these transfers, the corporations still own digital assets valued at approximately $901 million. Based on SpotOnChain statistics, FTX has $530 million spread across 18 addresses, whereas Alameda has $371.39 million in assets.
FTX Seeks to Eliminate Debt Ahead of a Possible Relaunch
This is happening while FTX actively divests a variety of assets as part of its reorganization operations, including interests in cryptocurrency and shares in other firms. The exchange received court approval last week to sell its 8% ownership in the AI startup Anthropic.
A substantial amount of FTX’s shares in Grayscale’s Bitcoin Trust (GBTC) have also been sold after the trust changed into an ETF. After postponing plans for a possible relaunch in January, FTX is hoping that these asset sales will assist it in paying off its obligations.
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