The crypto wallets related to FTX and its sister trading firm that goes by the name Alameda Research have transferred over $13 million in multiple altcoins to numerous crypto exchanges on November 1, 2023. A report by Spotonchain suggested that FTX wallet first initiated a transaction of $8.12 million worth of altcoins to Coinbase. The assets comprise 46.5 million GRT, 972,023 RNDR, and 708.1 MKR.
Right after that, the wallet address of FTX and Alameda Research kicked off another transaction of $5.49 million to Binance and Coinbase. The top three assets of this transaction were 1.14 million DYDX, 192,888 AXS, and 5858 AAVE. Previously, crypto analysis firm Nansen also highlighted this kind of FTX transactions in the past few weeks, which included millions of dollars in cryptocurrency.
According to the reports shared by Nansen, the first batch of transactions included $8.1 million worth of altcoins. On the other hand, there was reportedly another transaction that was of around $24.3 million in altcoins to Coinbase and Binance. All the data collected by Spotonchain says that a total of $78 million in assets have already been transferred to crypto exchanges from Alameda and FTA wallets in the past week.
This started happening in response to the court order that allowed FTA to sell digital assets worth $3 billion via an investment advisor. The court order also mentioned that the weekly batches will go according to the pre-established norms.
The procedure will let FTX sell $50 million worth of assets on a weekly basis. The
transactions have a $100 million cap in the upcoming weeks. Nonetheless, the cap could be increased to $200 million per week with the already written consent of the committee of creditors and the ad hoc committee once the court approves it.