FTX wallets transfer $145M in stablecoins to crypto exchanges

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Photo Source: FTX (Medium)

Three crypto wallets belonging to FTX and Alameda Research have transferred $145M worth of Tether (USDT) and USD Coin (USDC) tokens to crypto exchanges.

In a recent tweet, data analysis firm Lookonchain said the wallets affiliated with FTX first transferred $69.6M in USDT to a wallet with the address "0xad6e." The firm that $43M from this sum were sent to crypto exchanges Binance, Coinbase, and Kraken.

FTX and Alameda Research also sent USDC tokens worth $75.9M to a Coinbase wallet.

FTX, and its subsidiaries had consolidated all their assets at the three wallets after the FTX Group filed for chapter 11 bankruptcy in November 2022.



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FTX has yet to provide the reason behind the stablecoin transfers.

The news came a few weeks after Alameda Research filed a $446M lawsuit against Voyager Digital for allegedly channeling FTX users’ assets to Alameda. Last week, Bankruptcy judge John Dorsey granted approval to Voyager to set aside $445M in case the bankrupt lender loses the case against Alameda. 

FTX also sued Grayscale Investments and Digital Currency Group for not allowing customers to redeem their assets from Grayscale’s Bitcoin (BTC) and Ethereum (ETH) trusts.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

Three crypto wallets belonging to FTX and Alameda Research have transferred $145M worth of Tether (USDT) and USD Coin (USDC) tokens to crypto exchanges.

In a recent tweet, data analysis firm Lookonchain said the wallets affiliated with FTX first transferred $69.6M in USDT to a wallet with the address "0xad6e." The firm that $43M from this sum were sent to crypto exchanges Binance, Coinbase, and Kraken.

FTX and Alameda Research also sent USDC tokens worth $75.9M to a Coinbase wallet.

FTX, and its subsidiaries had consolidated all their assets at the three wallets after the FTX Group filed for chapter 11 bankruptcy in November 2022.



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


FTX has yet to provide the reason behind the stablecoin transfers.

The news came a few weeks after Alameda Research filed a $446M lawsuit against Voyager Digital for allegedly channeling FTX users’ assets to Alameda. Last week, Bankruptcy judge John Dorsey granted approval to Voyager to set aside $445M in case the bankrupt lender loses the case against Alameda. 

FTX also sued Grayscale Investments and Digital Currency Group for not allowing customers to redeem their assets from Grayscale’s Bitcoin (BTC) and Ethereum (ETH) trusts.

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Written by
Ayush Pande