FTX moves millions of dollars worth of LINK, MATIC, AGLD to Coinbase as Sam Bankman-Fried testifies. Recent transactions show $19 million worth of crypto being moved from FTX cold wallets to exchanges.
This time, FTX moved other tokens to Coinbase!
cryptokoin.comAs you follow from , cryptocurrency exchange FTX crashed dramatically last year. This collapse also shook the crypto market deeply. In the background of this, the irregular transactions of former CEO Sam Bankman-Fried were revealed. We have come to the final stage in this drama. Today, Sam Bankman-Fried began testifying in court. Amidst these developments, some movements in the crypto accounts of the bankrupt FTX attracted attention. FTX moved another batch of crypto assets worth millions on Thursday afternoon, including Chainlink’s LINK and Polygon’s MATIC, according to blockchain data.
According to a post from on-chain detective Lookonchain, $2.6 million in LINK and $1.3 million in adventure gold AGLD were transferred from FTX-related crypto wallets to Coinbase.
Another $4.8 million in MATIC went from an FTX wallet to an intermediary address, according to data from blockchain analysis platform Arkham Intelligence. Additionally, this address transferred $1.8 million of the tokens to Coinbase.
Bankrupt cryptocurrency exchange started sales early
Meanwhile, earlier today, $19 million worth of crypto including Solana (SOL) and Ethereum (ETH) left FTX cold wallets and were deposited to exchanges. Deposits potentially indicate an intention to sell tokens. A U.S. bankruptcy court last month allowed FTX to sell, stake and hedge its $3.4 billion stash of crypto assets after the company appointed Galaxy Digital to manage its token holdings. The transactions took place as Sam Bankman-Fried, founder of FTX and sister trading firm Alameda Research, was to testify at his sentencing hearing on Thursday afternoon.
Lookonchain again reported the transactions in the early hours. Accordingly, “FTX/Alameda sold 974,270 RNDR ($2 million) and 21,967 COMP ($995 thousand) for a total of $13.5 million in asset sales. According to our previous analysis, FTX/Alameda holds approximately $3.4 billion in total crypto assets.” said. He also shared a breakdown of these assets. FTX/Alameda’s assets include:
- $1.162 million SOL
- $560 million BTC
- $192 million ETH
- $137 million APT
- $120 million USDT
- $119 million XRP
- $49 million BIT
- $46 million STG
- $41 million WBTC
- $37 million WETH
- $362 million SRM
- $309 million MAPS
- $164 million OXY
- $72 million MEDIA
- 51 million dollar FIDA
- $28 million BRZ
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