Companies
Amid Bankruptcy, FTX Transfers $156 Million in Assets, Including Solana and Ethereum
The company FTX has been in the public eye due to legal scandals and its bankruptcy declaration. Recently, approximately $156 million worth of digital assets have been transferred in a series of movements carried out by wallets associated with FTX.
Among the transferred assets are Ethereum (ETH) and Solana (SOL), two of the most popular cryptocurrencies in the market. The blockchain analytics firm Nansen conducted the analysis of these transactions and has been closely monitoring FTX’s movements..
One of the notable transactions was the unstaking of Solana tokens worth approximately $57.6 million.
FTX funds have continued to move to exchanges since our last update
– 695K PERP $423K
– 767K BICO $182K
– 833K KNC $616K
– 108M TRU $420K
– 138K BAND $221K
– 2.5M GRT $273K
– 845 MKR $1.17M
– 7.16M RNDR $17.8M
– 10.5M USDC
– 23k MATIC $15K
– 9.5M REN $500K
– 1.1M ETH $2MAnd… pic.twitter.com/UPKkJh3llq
— Nansen ? (@nansen_ai) October 31, 2023
The community has been closely monitoring the process that began on October 30. Although the currently unlocked assets are held in FTX’s staking wallet, this action is expected to increase the total Solana tokens transferred to nearly $90 million.
This move is part of FTX’s liquidators’ strategy to maximize the platform’s assets amid its bankruptcy.
The List of Assets Transferred from FTX
Furthermore, a series of other digital asset transfers took place. These include 1,100 Ethereum (ETH) with a value of approximately $2 million, 10.5 million USDC tokens, and 7.6 million Render tokens worth $500,000.
The list of transferred assets also includes 833,000 Kyber Network Crystal (KNC) tokens equivalent to $616,000, along with 108 million TRUE tokens valued at $420,000.
Other assets consist of 138,000 Band Protocol tokens worth $221,000, 2.5 million The Graph tokens equivalent to $273,000, 845 Maker tokens valued at $1.17 million, and 9.5 million REN tokens with a value of $500,000.
Finally, transfers made of 695,000 Perpetual Protocol tokens valued at $423,000, 767,000 Biconomy tokens worth $182,000, and 23,000 Polygon tokens with a value of $15,000.”
The value of FTX claims increased amid these transactions. This increase in claim value comes after Google announced a $2 billion investment in the artificial intelligence startup Anthropic.
Google’s investment has led some to speculate that FTX’s bankruptcy may be nearing a full recovery. However, experts caution that significant challenges still exist in FTX’s bankruptcy process, and there is still a long road ahead.