FTX-Linked Address Deposits $24.69M in ETH to Coinbase
CryptoNewsTerminal Staff04 Sep, 2024
FTX-Linked Address Deposits $24.69M in ETH to Coinbase
According to Arkham data, an FTX-linked address (starting with 0xd2F8) deposited 10,276 ETH ($24.69 million) to Coinbase 15 minutes ago. The address had previously received 3,600 ETH two years ago from an address labeled as FTX US hot wallet. Notably, this news comes amidst recent turmoil surrounding FTX, one of the largest cryptocurrency exchanges globally. The exchange has been grappling with liquidity issues and has filed for bankruptcy. The exact nature of the relationship between the FTX-linked address and the exchange's financial troubles remains unclear. The recent deposit from the FTX-linked address has raised eyebrows, given the ongoing uncertainty surrounding the exchange. As the situation continues to unfold, industry experts are monitoring the movement of funds from FTX-related accounts closely.
