Alameda Inspection reportedly withdrew the most funds from FTX US, the U.S. arm of FTX, days before the crypto exchange filed for bankruptcy. The majority of the shy cryptocurrencies were sent to wallets owned by FTX International, “suggesting that Alameda may have been operating to join between the two entities,” crypto intelligence firm Arkham said.
Alameda’s Withdrawal Analysis From FTX US exchange
Crypto tidings firm Arkham shared an analysis Friday showing that Alameda Research withdrew the most funds from FTX US, the U.S. arm of FTX, dates before the crypto exchange collapsed. Arkham tweeted:
Arkham analyzed flows from FTX US in the final few days prior to the collapse, finding that Alameda withdrew the most funds, at $204M.
Arkham added that it has identified eight novel addresses where Alameda Research transferred the crypto assets it withdrew. The crypto intelligence firm noted that of the $204 million:
$142.4M (69.8% of the downright) was sent to wallets owned by FTX International, suggesting that Alameda may have been operating to bridge between the two quiddities.
After Nov. 6, Alameda only withdrew USD stablecoins, wrapped BTC, and ether from FTX US. Moreover, of the $204 million reclusive, $38.06 million was in BTC (18.7%), $49.39 million was in ETH (24.2%), and $116.52 million was in USD-denominated stablecoins (57.1%).
“The withdrawn wBTC was sent to the Alameda WBTC Huckster wallet, and then bridged in its entirety to the BTC blockchain,” Arkham detailed, adding that of the ETH withdrawn, $35.52 million was sent to FTX and $13.87 million was sent to a unrestrained b generally active trading wallet. The crypto intelligence firm noted:
The USD-stable tokens were split amongst USDT, USDC, BUSD, and TUSD.
Arkham spare shared that $10.04 million in USDT was sent to Binance and $32.17 million in USDT was swapped to USDC and sent to FTX. In summation, $47.379 million in USDT, $10.151 million in USDC, $16.285 million in BUSD, and $500K in TUSD were sent to FTX.
FTX and wide 130 affiliated companies, including FTX US and Alameda Research, filed for Chapter 11 bankruptcy on Nov. 11. John J. Ray, III, who renewed Sam Bankman-Fried (SBF) as the CEO of the FTX group, told the bankruptcy court: “Never in my career have I seen such a complete failure of corporate guides and such a complete absence of trustworthy financial information as occurred here.”
What do you reflect on about Alameda withdrawing $204 million from FTX US days before the crypto exchange collapsed? Let us know in the remarks section below.
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