Over the weekend, stablecoins worth well over $100 million were sent to Cumberland and GSR Markets via a wallet connected to the liquidators of the Alameda Wallets estate.
In the Midst of USDC’s De-peg, Alameda Wallets are Transferring Stablecoins
After that initial transfer, stablecoins worth $188.5 million were once more transferred on March 14 from three other accounts connected to FTX and Alameda to other major exchanges. Around $47 million worth of USDC was sent to GSR Markets on March 13. According to an on-chain analysis performed by Arkham Intelligence, $50.3 million was moved to Cumberland during the course of two transactions.
Which Exchanges Received Funds from Alameda Wallet?
Three additional wallets that were previously associated with FTX and Alameda delivered $188.58 million to Coinbase, Kraken, and Binance claims blockchain investigator Lookonchain. However, it is unclear whether the funds are being consolidated by bankruptcy officials or are being invested to generate a yield.