October 31, 2023
The estate of bankrupt crypto exchange FTX and its associated trading arm Alameda Research recently transferred approximately $19.4 million in crypto assets. This movement was detected by blockchain tracking firm Lookonchain. The transferred assets mainly consisted of Solana (SOL) and several other altcoins.
According to Lookonchain, FTX and Alameda moved a total of $19.4 million worth of crypto assets. The breakdown of the assets transferred is as follows:
Lookonchain has been monitoring the crypto assets transferred out of the FTX bankruptcy estate. As of October 28th, a total of $78.7 million in assets had been moved. However, the bankruptcy estate still holds approximately $600 million in crypto assets that have not been sold or transferred. This includes nearly $100 million in ETH.
Eight FTX/Alameda addresses that have sold assets were analyzed by Lookonchain. These addresses currently hold around $619 million in crypto assets. The breakdown of the assets held is as follows:
Former FTX CEO Sam Bankman-Fried is currently facing legal proceedings. Testimonies from his former colleagues, including ex-CEO of Alameda Caroline Ellison, have raised serious allegations against him. Ellison testified that she received instructions from Bankman-Fried to commit various crimes. This testimony has been described as particularly damning for Bankman-Fried.
The recent movement of $19.4 million in crypto assets by the bankrupt FTX and Alameda Research has raised further questions about the ongoing legal proceedings. With significant assets still held by the bankruptcy estate, the outcome of these proceedings will have a significant impact on the crypto industry.