Funds were seemingly being channelled out of Alameda wallets, with millions in tokens being redirected to one address this morning.
Transactions to the wallet included 9.8 million wrapped XRP (around $3.6 million), about 6.8 million in the Render network token (around $3.4 million), about 3.4 million in xSUSHI (about $5.3 million) and 100 million in BitDAO's token (around $30 million), according to logs on block explorer Etherscan, as of 5:45 a.m. ET. Data also showed 11 million in the stablecoin Tether moved from crypto exchange Kucoin. These total just under $55 million.
On Thursday, following a spectacular week of twists and turns, FTX's CEO Sam Bankman-Fried said that Alameda — a sister trading company of the exchange — would wind down. One day later, FTX and Alameda filed for Chapter 11 bankruptcy protection, as it was revealed that it faced as much as an $8 billion shortfall.
The moves from Alameda wallets follow funds flowing out of FTX itself. On Friday, more than $400 million was transferred to a single wallet address. The wallet had acquired tens of millions of dollars worth of several types of tokens by draining FTX accounts, and began selling tokens that it received from FTX.
FTX's general counsel Ryne Miller said the exchange was "investigating abnormalities with wallet movements related to consolidation of FTX balances across exchanges — unclear facts as other movements not clear. Will share more info as soon as we have it. @FTX_Official."
Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.
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