FTX, Alameda Transfer $38M To Exchanges In 37 Days

#PeckShieldAlert #FTX/#Alameda– labeled addresses have transferred 200 $WBTC (~$9M) to #Binance and 1K $ETH ($2.4M) to #Coinbase pic.twitter.com/FiR0zdv4kW

— PeckShieldAlert (@PeckShieldAlert) January 9, 2024

Later in January, FTX and Alameda moved an additional $16.3 million to various exchanges. On January 17, addresses linked to the organizations transferred $8.9 million in Tether Gold (XAUT) to Coinbase and $2.6 million in ETH to Wintermute. On January 30, crypto wallets transferred $2.3 million in ETH to Coinbase, $1.3 million in various altcoins to Binance, and $1.28 million to GSR Markets.

The fund movements occurred as the fallen exchange was restructuring and announcing plans to fully repay its customers. On Jan. 31, the defunct exchange stated in a US court hearing that its restructuring plans would not include a relaunch of the exchange, but would instead focus on repaying its customers in full. However, FTX attorney Andy Dietderich stated that repaying customers was an objective rather than a guarantee.

Following the hearing, criticism was leveled at the restructuring plan, citing the legal team’s profits from the ordeal. On February 4, former US Securities and Exchange Commission official John Reed Stark called the plan a “highway robbery of highway robbers.”

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