FTX and Alameda Move $8.6M in Crypto to Binance

The funds’ movement was flagged by Nansen smart alerts, which allow you to get real-time updates on wallets.

FTX and Alameda Research have transferred $8.6 million in cryptocurrency to a Binance address. The funds moved include 2.2 million Chainlink (LINK), 1 million Aave (AAVE), 2 million Maker (MKR), and 3.4 million Ether (ETH).

FTX and Alameda funds are on the move! 🏃

– 2.2M USD LINK
– 1M USD AAVE
– 2M USD MKR
– 3.4M USD ETH

These funds moved to 0xde9 then 0xaee which is a Binance address

We don't track offchain movements, but presumably, this is to either sell or to prepare to sell these funds pic.twitter.com/n6jfyghDmk
— Nansen 🧭 (@nansen_ai) October 25, 2023

The funds’ movement was flagged by Nansen smart alerts, which allow you to get real-time updates on wallets. Nansen does not track off-chain movements, but the firm believes that the funds are likely being moved to Binance to be sold.

The funds were moved to 0xde9 and then to 0xaee, which is a known Binance wallet.

The reasons why FTX and Alameda might be selling these funds are unclear. It is also possible that the funds are being transferred to Binance for other reasons, such as to be traded on the Binance exchange or to be stored in Binance’s cold storage wallets.

Also Read: FTX Considering Three Bidders to Restart Exchange

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