Alameda Withdrew $204M in Crypto From FTX US Days Before Exchange Collapsed

Alameda Research reportedly withdrew essentially the most funds from FTX US, the U.S. arm of FTX, days earlier than the crypto change filed for chapter. The majority of the withdrawn cryptocurrencies have been despatched to wallets owned by FTX International, “suggesting that Alameda might have been working to bridge between the 2 entities,” crypto intelligence agency Arkham stated.

Alameda’s Withdrawal Analysis From FTX US change

Crypto intelligence agency Arkham shared an evaluation Friday displaying that Alameda Research withdrew essentially the most funds from FTX US, the U.S. arm of FTX, days earlier than the crypto change collapsed. Arkham tweeted:

Arkham analyzed flows from FTX US within the last few days earlier than the collapse, discovering that Alameda withdrew essentially the most funds, at $204M.

Arkham added that it has recognized eight totally different addresses the place Alameda Research transferred the crypto belongings it withdrew. The crypto intelligence agency famous that of the $204 million:

$142.4M (69.8% of the overall) was despatched to wallets owned by FTX International, suggesting that Alameda might have been working to bridge between the 2 entities.

After Nov. 6, Alameda solely withdrew USD stablecoins, wrapped BTC, and ether from FTX US. Moreover, of the $204 million withdrawn, $38.06 million was in BTC (18.7%), $49.39 million was in ETH (24.2%), and $116.52 million was in USD-denominated stablecoins (57.1%).

“The withdrawn wBTC was despatched to the Alameda WBTC Merchant pockets, after which bridged in its entirety to the BTC blockchain,” Arkham detailed, including that of the ETH withdrawn, $35.52 million was despatched to FTX and $13.87 million was despatched to a big lively buying and selling pockets. The crypto intelligence agency famous:

The USD-stable tokens have been cut up amongst USDT, USDC, BUSD, and TUSD.

Arkham additional shared that $10.04 million in USDT was despatched to Binance and $32.17 million in USDT was swapped to USDC and despatched to FTX. In addition, $47.379 million in USDT, $10.151 million in USDC, $16.285 million in BUSD, and $500K in TUSD have been despatched to FTX.

FTX and about 130 affiliated firms, together with FTX US and Alameda Research, filed for Chapter 11 chapter on Nov. 11. John J. Ray, III, who changed Sam Bankman-Fried (SBF) because the CEO of the FTX group, told the chapter courtroom: “Never in my profession have I seen such an entire failure of company controls and such an entire absence of reliable monetary info as occurred right here.”

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