In a series of moves spanning four days, defunct crypto trading firms FTX and Alameda Research orchestrated the transfer of $23.59 million worth of digital assets to prominent cryptocurrency exchanges. The transaction involved 19 tokens, showcasing the duo’s continued activity in the crypto space.

Analyzing the Transfer: $591 Million in Total Since Oct. 24

Blockchain analytics firm Spot On Chain closely monitored the movement. It further revealed that FTX and Alameda have executed transfers amounting to $591 million since October 24. This activity spans 59 different cryptocurrency tokens, underscoring the complexity and scale of the operations.

The wallets associated with FTX dispersed the latest transfer across an array of tokens. These include ETH, ALEPH, CRV, AVAX, LINK, DOGE, MATIC, UNI, SOL, and more. Notable assets involved in the transaction included 3,150 Ether (ETH) valued at $6.8 million, 59.6 million (ALEPH) at $6.41 million, and several others.

Diverse Asset Involvement: PUNDIX, RSR, DOGE, and Beyond

Beyond the primary tokens, the transfer encompassed $6.07 million in various assets, such as Pundi X (PUNDIX), Reserve Rights (RSR), Dogecoin (DOGE), Bitcoin Cash (BCH), and others. These assets were strategically moved to leading exchanges, including Binance, Coinbase, OKX, and Galaxy Digital OTC.

The recent transfer follows a pattern established on October 24. This was when $10 million was moved to a single wallet address, subsequently redistributed to Binance and Coinbase accounts. A similar transaction occurred on November 1, involving $13.1 million moved to accounts on Binance and Coinbase.

Recovering Assets for Investors and Ongoing Recovery Efforts

Notably, the funds’ movement traces back to March when FTX and Alameda initiated efforts to recover assets for investors. In this earlier phase, $145 million worth of stablecoins were moved across platforms like Coinbase, Binance, and Kraken.

While FTX has successfully recovered over $5 billion in cash and liquid cryptocurrencies, the exchange still grapples with outstanding liabilities totaling $3.8 billion. The journey of asset recovery and financial stability remains a focal point for FTX and Alameda Research.

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