In one of the latest developments in the cryptocurrency world, FTX and Alameda Research made a significant move by depositing $14.4 million worth of tokens to various exchanges. This move comes as part of its ongoing efforts to diversify and expand its crypto portfolios. Data from Spot on Chain shows that this deposit was made approximately two hours ago. Among these transactions, the largest amount is made with MATIC tokens. Here are the details…
MATIC and these altcoins are heading to exchanges
The trial of FTX founder Sam Bankman-Fried began in New York on October 3, after a tumultuous year. Since the collapse of cryptocurrency exchange FTX and its partner hedge fund Alameda Research in November last year, former CEO Bankman-Fried was investigated by federal prosecutors and the SEC before being extradited from the Bahamas in early January. Meanwhile, the coins in FTX and Alameda’s wallet took action. The latest deposit includes a variety of tokens, with the first three being 8.15 million MATIC, 2.03 million BAND, and 3.76 million PERP. Among the tokens deposited are TRU, BICO, KNC, CVC and BOND. In the last 24 hours, these altcoin projects have fallen by 3-4 percent. However, the following three altcoins attract the most attention in terms of US dollar.
- MATIC ($4.96 million): FTX/Alameda deposited 8.15 million MATIC tokens with a total value of $4.96 million.
- BAND ($3.15 million): Another notable deposit was 2.03 million BAND tokens worth $3.15 million. BAND is a popular oracle solution in the Blockchain space and provides reliable data feeds to decentralized applications.
- PERP ($2.28 million): FTX and Alameda deposited 3.76 million PERP tokens with a total value of $2.28 million. PERP is an important part of the decentralized finance (DeFi) environment.
5 more altcoins go to exchanges
In addition to these tokens, the deposit also includes TRU, BICO, KNC, CVC and BOND. It further diversifies FTX and Alameda’s holdings. This deposit follows a trend of larger token deposits as FTX/Alameda recently deposited $47.3 million worth of various EVM (Ethereum Virtual Machine) tokens to different exchanges. Their commitment to expanding their crypto holdings is evident in the size and diversity of their investments.
Moreover, it is worth noting that FTX/Alameda currently owns various EVM assets worth approximately $736 million. The crypto community is watching FTX and Alameda Research closely as they continue to make significant moves in the world of cryptocurrency investing. Moreover, cryptokoin.com As we reported, FTX founder Sam Bankman Fried is currently in judicial process. Most recently, SBF began his testimony before the grand jury on Friday by saying he made mistakes at the now-collapsed crypto giant FTX. According to SBF, the biggest mistake of all is not employing a risk manager. As the crypto market continues to be extremely dynamic, developments like these from players like FTX and Alameda Research are critical. It is a reminder of the ever-evolving nature of this field and the importance of staying up to date on the latest moves and trends.
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