Alameda Research Withdrew $204M From FTX US Before Filing For Bankruptcy

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Sam Bankman-Fried; Photo Source: Forbes
Arkham Intelligence said, "Arkham analysed flows from FTX US in the final few days before the collapse, finding that Alameda withdrew the most funds, at $204M."

Blockchain analytics firm Arkham Intelligence reported Alameda Research pulled out crypto assets worth $204M from FTX US before filing for Chapter 11 bankruptcy on November 11.

Arkham Intelligence’s tweets claimed that Alameda used eight different wallet addresses to carry out the withdrawals. One of these wallets was used by Alameda for OTC Trading and is still engaged in asset transfers.

Arkham stated that a significant fraction of the funds consisted of USD-backed stablecoins. These included USD Coin (USDC), Tether (USDT), Binance USD (BUSD), and TrueUSD (TUSD). 



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Alameda Research also withdrew $49.3M in Ethereum (ETH). The firm transferred a large portion of $ETH to FTX while sending the rest to an active trading wallet.

The remaining $38.06M was withdrawn in Bitcoin (BTC). Alameda first sent Wrapped Bitcoin (wBTC) to its Merchant wallet before bridging the tokens to the Bitcoin Blockchain. Arkham noted that wBTC experienced a decline in its value against Bitcoin following Alameda’s downfall, adding,

“With the collapse of Alameda Research, one of the biggest market makers for wBTC is no longer servicing the peg.”

Finally, of the $204M, $152M was sent to Binance and FTX, with $38M transferred to the BTC Blockchain. The remaining $13.87M was deposited to 0xa120, a trading wallet.

Written by
Ayush Pande
Arkham Intelligence said, "Arkham analysed flows from FTX US in the final few days before the collapse, finding that Alameda withdrew the most funds, at $204M."

Blockchain analytics firm Arkham Intelligence reported Alameda Research pulled out crypto assets worth $204M from FTX US before filing for Chapter 11 bankruptcy on November 11.

Arkham Intelligence’s tweets claimed that Alameda used eight different wallet addresses to carry out the withdrawals. One of these wallets was used by Alameda for OTC Trading and is still engaged in asset transfers.

Arkham stated that a significant fraction of the funds consisted of USD-backed stablecoins. These included USD Coin (USDC), Tether (USDT), Binance USD (BUSD), and TrueUSD (TUSD). 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Alameda Research also withdrew $49.3M in Ethereum (ETH). The firm transferred a large portion of $ETH to FTX while sending the rest to an active trading wallet.

The remaining $38.06M was withdrawn in Bitcoin (BTC). Alameda first sent Wrapped Bitcoin (wBTC) to its Merchant wallet before bridging the tokens to the Bitcoin Blockchain. Arkham noted that wBTC experienced a decline in its value against Bitcoin following Alameda’s downfall, adding,

“With the collapse of Alameda Research, one of the biggest market makers for wBTC is no longer servicing the peg.”

Finally, of the $204M, $152M was sent to Binance and FTX, with $38M transferred to the BTC Blockchain. The remaining $13.87M was deposited to 0xa120, a trading wallet.

Written by
Ayush Pande