FTX and Alameda Move Colossal Amounts of Assets to Binance, Coinbase, and FalconX

In a thrilling turn of events, FTX, a fallen cryptocurrency exchange, and its backstop liquidity provider Alameda, recently shifted staggering amounts of 8 digital assets to CEXs Coinbase, Binance, and FalconX. According to insights provided by SpotOnChain, these assets included $3.2 million worth of ETH, ALPHA, POWR, SNT, OXT, RLC, NMR, and NEXO, which were shifted to some of the most renowned exchanges globally. Meanwhile, the transactions surfaced on the crypto horizon today, February 6.
Among these assets, 1K ETH, worth $2.3 million, was shifted to Coinbase, while 4.43 million ALPHA, worth $411K, was shifted to Binance. Meanwhile, $609K worth of POWR, SNT, OXT, RLC, NMR, and NEXO were moved to Coinbase and FalconX, garnering notable attention among prominent crypto investors and traders.
FTX & Alameda's Offloading Continues
Interestingly, amid the recent heightened volatility witnessed across the broader crypto market, Sam Bankman-Fried's FTX appears to have continued to move tokens to CEXs. According to blockchain data, the two entities offloaded a staggering $15.1 million worth of 21 digital assets over the past week. Among these assets, apart from the eight mentioned above, TLM, DENT, LOOKS, DODO, FRONT, LINA, REEF, HBTC, SD, GFI, ALCX, and FTM were transferred in massive amounts to Binance, Coinbase, FaclonX, and Wincent. Notably, the two entities also incinerated TONCOIN worth $1.03 million, giving rise to further inferences.
Meanwhile, the asset transfers made by FTX and Alameda are the result of Sam Bankman and his exchange's notable decline, leading to a legal ruling faced by the parties to repay their creditors. Following this, FTX and Alameda's transfer of assets to CEXs has become a recurring phenomenon within the crypto realm.