Wallets linked to the financially troubled crypto exchange, FTX, have recently conducted transfers amounting to approximately $156 million in various digital assets, such as Ethereum (ETH) and Solana (SOL), as reported by blockchain analytics firm Nansen.
These transfers have raised concerns and piqued the interest of industry experts and investors, shedding light on FTX’s asset movements.
Nansen’s report discloses the continued migration of funds from FTX wallets to various exchanges. Notable transactions include:
- 695,000 Perpetual Protocol (PERP) tokens worth $423,000
- 767,000 Biconomy (BICO) tokens worth $182,000
- 833,000 Kyber Network (KNC) tokens worth $616,000
- 108 million TrueFI (TRU) tokens worth $420,000
- 138,000 Band (BAND) tokens worth $221,000
- 2.5 million Graph (GRT) tokens worth $273,000
- 845 Maker (MKR) tokens worth $1.17 million
- 7.16 million Render (RNDR) tokens worth $17.8 million
- 10.5 million USD Coin (USDC)
- 23,000 Polygon (MATIC) tokens worth $15,000
- 9.5 million Ren (REN) tokens worth $500,000
- 1.1 million ETH tokens worth $2 million
The report also mentions that an additional 1.6 million SOL tokens worth $57.6 million have initiated the unstaking process. Though not yet withdrawn from the wallet, their potential movement would increase the total SOL tokens moved by FTX to nearly $90 million.
Furthermore, considering the unstaking of SOL and the assets transferred by FTX to Coinbase and Binance, the total value of FTX’s moved funds now reaches $156 million.
Nansen’s earlier investigation exposed significant transfers from wallets associated with FTX and its trading arm, Alameda Research.
Funds were withdrawn from these wallets, sent to intermediary wallets, and eventually deposited into Binance and Coinbase. The notable movements include:
- 2.2 million USD worth of Chainlink (LINK) tokens
- 1 million USD worth of Aave (AAVE) tokens
- 2 million USD worth of MKR tokens
- 3.4 million USD worth of ETH tokens
Additionally, Nansen discovered the movement of 943,000 SOL tokens, approximately valued at $32 million, from the FTX Cold Storage wallet.
These recent findings by Nansen regarding the fund movements associated with the struggling crypto exchange FTX have raised concerns within the cryptocurrency community. The report highlights significant transfers of various digital assets, including ETH and SOL, providing insight into the scale of FTX’s asset movements.
In the current market scenario, FTX’s native token, FTT, is trading at $1.23. Although it briefly exceeded $1,360 on October 23, a subsequent decline has been consistent. Nevertheless, over the past 30 days, FTT has maintained a 3.7% profit margin, indicating relative stability within this timeframe.