In a recent development, on-chain data analyst Ember reported significant movements from FTX/Alameda-related addresses on December 2. It uncovered a series of transfers from FTX and Alameda wallets, shedding light on their efforts to repay creditors and the aftermath of their financial collapse. Monitored transactions revealed a significant transfer of crypto assets totaling $18.42 million in the last 5 hours. Assets included coins such as GMT and IMX. Here are the details…
Large transfer of IMX, UNI, ETH to Coinbase Prime, Galaxy Digital
Analysis by Ember revealed 6.26 million IMX transfers going to Coinbase Prime, equivalent to approximately $8.92 million. This major move raises questions about the reasons behind the transfer and the potential consequences for both platforms. Investors and enthusiasts are watching the IMX transfer closely. In addition to the IMX transfer, addresses associated with FTX/Alameda have made a number of transfers to various platforms. Specifically, 1,643 ETH, approximately $3.43 million, made its way to an undisclosed destination. Simultaneously, 440,000 UNIs worth approximately $2.65 million found a new home at Galaxy Digital.
GMT transferred to Wintermute
Wintermute received significant assets by entering the platform with 10 million GMT (approximately $2.62 million) and 800,000 WOO (approximately $180,000). Galaxy Digital also received a smaller transfer of 100,000 BAL (approximately $390,000). GSR received 2.24 million LOOKS, equivalent to approximately $260,000. As the crypto community digests this latest development, questions continue to surface regarding the motivations behind these transfers and the potential impact on the relevant platforms.
FTX and Alameda were also on the move yesterday
Meanwhile, yesterday, on-chain analysis platform Spot On Chain reported FTX’s previous transactions. Amid ongoing bankruptcy proceedings, FTX and Alameda made strategic transfers on December 1, sending millions of dollars worth of altcoins to leading cryptocurrency exchanges such as Coinbase, Binance, and market maker Wintermute. These transactions, totaling billions of dollars, represent a significant step in their commitment to repay creditors and address the fallout from last year’s bankruptcy.
In addition to the transfers in question, 5.25 million Synapse (SYN), 8.76 million Klaytn, Fantom and SHIB transfers are on the agenda. Notably, the same wallets involved in these major transfers also conducted small test transfers for altcoins such as AUDIO, WOO, and LOOK. Industry experts now speculate that these test transfers may precede larger sales of these three altcoins in the near future. Wallets currently holding $1.5 billion worth of altcoins remain under scrutiny as the crypto community closely monitors their actions.
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For the rest of the article, FTX is on the Move: GMT and These 9 Coins Are Transferred to Companies!