FTX Alameda Address Deposits $14.4M in ETH to Binance and Coinbase

IconCrypto News Terminal23 Apr, 2024

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FTX Alameda Address Deposits $14.4M in ETH to Binance and Coinbase

FTX and Alameda Research, the embattled crypto exchange and trading firm, have allegedly deposited 4,500 ETH (worth approximately $14.4 million) to Coinbase and Binance over the past 8 hours. This brings the total amount of ETH deposited to centralized exchanges from a presumed FTX/Alameda address to 20,350 ETH, or $72.5 million, since March 1st. The transactions were revealed by on-chain data analysis platform SpotOnChain, which shared its findings on X. The large volume of ETH outflows from the presumed FTX/Alameda address has raised concerns among crypto enthusiasts, who are speculating that the funds may be moving to avoid potential seizure or freezing by regulatory authorities. Previously on 22 April 2024, SpotOnChain reported that the same FTX/Alameda address had deposited 20,350 ETH to centralized exchanges since March 1st. It remains to be seen whether these latest transactions are part of a wider pattern of asset movement by FTX and Alameda, and what the implications of these actions may be for the crypto industry.

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