The bankrupt duo of FTX and Alameda Research is back at it, shifting $10.8 million in cryptocurrency to exchanges like Wintermute, Binance, and Coinbase. According to blockchain tracker Spot On Chain, the firms—now under receivership—moved a mix of eight digital assets in their latest shuffle.
The haul included 10 million StepN (GMT) worth $2.58 million, 407,000 Uniswap (UNI) at $2.41 million, 2.23 million Synapse (SYN) for $2.25 million, 8.76 million Fantom (FTM) at $1.18 million, and 77.77 billion Shiba Inu (SHIB) clocking in at $644,000, plus smaller chunks of Arbitrum (ARB) and Optimism (OP).
This isn’t a one-off. Since October 2023, FTX and Alameda have offloaded a hefty $551 million across 59 different tokens, slowly unloading their digital stash. Just last November, they funneled $24 million worth of crypto to Kraken and OKX, showing this is all part of a bigger play.
It ties back to a U.S. court ruling on September 13, greenlighting FTX to sell off its crypto holdings to settle creditor debts. The deal caps weekly liquidations at $100 million per token position, though a special committee can bump that to $200 million—either once or ongoing—if they give the nod. For now, these transfers are chipping away at FTX’s wreckage, one wallet at a time, as the once-mighty exchange keeps unraveling.
