Arkham Intelligence revealed the companies that withdrew the most funds from FTX US, including Alameda Research. This one would have withdrawn 204 million dollars, a few days before the collapse of the exchange of Bankman-Fried. The blockchain analytics firm also said withdrawals were mostly in stablecoins.
Alameda acted as a bridge between FTX US and FTX International?
Blockchain analytics company, Arkham Intelligence, shared on their account Twitter, the companies that withdrew the most funds from FTX US. We find Alameda Research, FTX Exploiter and Amber Group. FTX Exploiter withdrew $49 million, while Amber Group withdrew $48 million.
Alameda alone pulled in $204 million. The company then transferred the vast majority of this withdrawn amount, 69.8% (142.4 million) to FTX International. According to Arkham Intelligence, this suggests that Alameda may be serving as a bridge between FTX International and its US branch. The analytics firm has indeed identified eight different addresses where Alameda transferred the withdrawn assets, including FTX International.
Majority of withdrawal in stablecoins
It was found that Alameda withdrew from FTX US only stablecoins, WBTC and ETH, after November 6. Of the $204 million withdrawn, 57.1% was in dollar-backed stablecoins, 24.2% in ETH, and 18.7% in BTC. The remaining $13.87 million was transferred to an active trading portfolio: 0xa20. The address is still active. However, it was not possible to determine whether this was an internal transfer or part of a trade.
57.1% or $116 million of withdrawals were in USD stablecoins. The details also showed that $10.4 million in USDT was sent to Binance. $32.17 million in USDT was exchanged into USDC and then sent to FTX. Alameda also sent FTX, most withdrawals made in USDC, BUSD and TUSD.
Additionally, FTX is allowed to pay its core vendors up to $8.5 million, while overseas vendors will only be eligible for $1 million. The bankruptcy filing also revealed a balance of $1.24 billion. Which is far from the 3.1 billion to which the company is liable to its 50 main creditors.
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