FTX Executes $15 Million Solana (SOL) Transfer
In recent developments, a digital wallet linked to the FTX platform transferred a significant amount of 470,000 SOL tokens, valued at an impressive $15 million.
PeckShieldAlert reported this substantial transaction on October 26. Notably, a portion of these assets found their way into major centralized exchanges, including Binance and Coinbase.
#PeckShieldAlert #FTX Cold Storage-labeled address on #Solana has transferred ~470K $SOL (~$15M) out. Some of these funds have been sent to #CEXs like #Binance #FTX Cold Storage-labeled address on #Ethereum has transferred ~$2.5M worth of cryptos, including 11K $COMP & ~974K… pic.twitter.com/KSi4Fgf3Al
— PeckShieldAlert (@PeckShieldAlert) October 26, 2023
Simultaneously, another FTX-affiliated digital wallet operating on the Ethereum blockchain executed a $2.5 million cryptocurrency transfer featuring assets such as COMP and RNDN. These funds were directed to Wintermute, a renowned global algorithmic trading firm specializing in digital assets.
Reports indicate that Wintermute Trading has received over $10.49 million in cryptocurrency transfers from digital addresses linked to FTX. Most intriguingly, these funds were primarily deposited through top centralized exchanges like Binance and Coinbase, and they encompassed various cryptocurrencies, including ETH, MKR, LINK, AAVE, COMP, and RNDN.
This surge in deposits correlates with recent price increases in multiple cryptocurrencies, including ETH, SOL, LINK, and AAVE, with SOL notably experiencing a remarkable 5.55% gain within the past 24 hours.
FTX, which faced a liquidity crisis involving its native token FTT leading to bankruptcy last year, has strategically moved its remaining assets to cold storage wallets to mitigate potential losses and unauthorized transactions.
With a new CEO, John J. Ray III, at the helm, the company is actively working on revitalization efforts and intends to unveil a comprehensive plan for its revival by December of this year.