FTX and Alameda Research Send $13.1M in Crypto to Exchanges Overnight

Investing in Web 3.0 Tokens

As of Nov. 1, crypto wallets linked to the defunct crypto exchange FTX and its sister trading firm, Alameda Research, have transferred over $13 million in various altcoins to different crypto exchanges. According to data from on-chain analysis firm Spotonchain, the FTX wallet first sent $8.12 million worth of altcoins, including 46.5 million The Graph’s GRT (GRT) ($4.85 million), 972,073 Render (RNDR) ($2.3 million), and 708.1 Maker (MKR) ($967,000).

After three hours, the FTX and Alameda Research wallet addresses made another $5.49-million transfer to Binance and Coinbase, with the top three assets being 1.14 million dYdX (DYDX) ($2.64 million), 192,888 Axie Infinity (AXS) ($1.05 million), and 5,858 Aave (AAVE) ($522,000).

Prior to the $13.1 million movement on Nov. 1, crypto analytics firm Nansen identified several wallet movements linked to FTX over the past week, resulting in the deposit of millions of various cryptocurrencies into different crypto exchanges. The first batch of $8.1 million worth of altcoins was moved to Binance, and Nansen estimated that an additional $24.3 million worth of assets from FTX and Alameda were deposited into Binance and Coinbase.

For those interested in investing in Web 3.0 tokens, there are a few steps to consider. First, do your research on the top Web 3.0 projects, companies, and tokens. You can buy Web 3.0 tokens on various crypto exchanges, and it is important to understand the differences between Web 2.0 and Web 3.0. Additionally, you can find articles written by AI to help guide your decision-making process.

Investing in Web 3.0 Tokens

On October 31, FTX linked 1.6 million Solana’s SOL (SOL) tokens worth $56 million that were unstaked and sent to an unknown wallet. Another 930,000 SOL tokens worth $32 million linked to FTX and Alameda were also moved to an unknown wallet speculated to be linked to Galaxy Digital, the firm responsible for the liquidation process.

According to Spotonchain, a total of $78 million worth of assets have been sent to crypto exchanges from FTX and Alameda wallets over the past week.

FTX-linked wallets have been sending their altcoins to crypto exchanges over the past month as part of a court-ordered phased liquidation process. This process allows FTX to sell digital assets worth over $3 billion through an investment adviser in weekly batches, with a maximum of $50 million in the first week, $100 million in the following weeks, and up to $200 million with the written consent of the creditors’ committee and court approval.