Amid the multiple ongoing investigations, FTX continues to move funds. The addresses, related to the failed crypto exchange, reportedly transferred around $145 million in stablecoins to a range of operating platforms.
As Lookonchain spotted on March 14, three wallets, associated with both FTX and its subsidiary, Alameda Research, have moved 69.64 million USDT and 75.94 million USDC. The Tether reserves have gone to custodial wallets on such platforms as Coinbase, Binance and Kraken. All funds in USDC were transferred to Coinbase custodial wallet.
Both FTX and Alameda are in the process of recovering their assets as they face the demands to return the funds to different groups of investors. According to FTX attorney Andy Dietderich, already by January 2023, the troubled cryptocurrency exchange has recovered $5 billion in cash and liquid cryptocurrencies. However, its total liabilities exceed $8.8 billion.
(By DAVID ATTLEE)
All Comments