Would we approach towards the rebirth of FTX ? Seeing the recent movements of funds from this fallen crypto exchange, its new leaders are preparing to announce something grandiose. They actually carried out crypto-asset transfers, leaving observers speechless. Decryption!
In short
- FTX accuses several movements of cryptocurrency transfers (SOL, ETH, BTC, MATH, etc.) in recent times
- For the moment, FTX has not provided any explanation regarding these transactions
FTX starts transferring cryptocurrencies
FTX, bankrupt since November 2022, would be about to return to the forefront, judge some analysts. Because after the launch of the claims portal for creditors, the John Ray III team continues to show optimism about the future of this American crypto exchange.
Currently, FTX would be rich with around $3 billion in cryptocurrencies that its barons intend to profit according to the volatility of these assets.
Last weekend, the crypto presses relayed the intention of the FTT issuer to liquidate the SOL in its possession. There was talk of a transaction of around 7 million tokens, the equivalent of $134 million, on occasion.
In a recent publication by CoinGap, we learned that FTX has already carried out cryptocurrency transfers. According to this crypto media, these transactions include tokens:
- Chainlink (LINK);
- MATH (MATH);
- and FTX (FTT).
Moreover, NEWBTC revealed that these movements also included SUSHI from Sushiswap, UNI from Uniswap as well as ETH. These cryptos transited via the Wormhole Bridge to end up in another wallet that does not belong to any particular exchange.
“ THE FTX wallets on the move
Over $1.5 billion in $SOL, SPL tokens and Wrapped Bitcoin in FTX Solana addresses have been spotted.
It looks likethey are preparing for potential sales.
Keep an eye on this, especially the ~$200M in Solana and Wrapped BTC. »
As for FTT, know that this native crypto of FTX saw an increase of 2.6% in 24 hours and 4.1% in one week. At the time of writing, this digital asset was trading at $1.06.
FTX, repayment of crypto creditors and SBF lawsuit
The crypto-asset transfers mentioned above were carried out after FTX managers decided to entrust the management of company assets at Galaxy Digital.
Thanks to the expertise of this Mike Novogratz company, the remaining bitcoins and ethers of the bankrupt crypto exchange will benefit from optimal protection against volatility. What to establish a safer environment for possible sales of these digital assets.
Note also that these movements took place almost a month before the trial of Sam Bankman-Fried.
Remember that this former FTX boss was being transferred to a real prison right now? A history of witness intimidation would have pushed the judge to strip him of his comfort as an individual under house arrest in his parents’ luxurious mansion in Palo Alto.
As for the destination and purpose of FTX crypto fund transfers, no one has been able to provide the slightest clarification. Some speculators spoke of their routing to an account controlled by Galaxy Digital.
Others, more pessimistic, spoke of manipulation carried out by an unknown actor. The latter were lynched by the Twitter community because of such nonsense. Since FTX is preparing to repay its creditors.
Concerning these reimbursements, it should be remembered that FTX took care to secure its users after a crypto scam (phishing) which weakened the Kroll infrastructure intended for this purpose. Instead of exposing its creditors’ data to this danger, the company backtracked again.
Receive a summary of the news in the world of cryptocurrencies by subscribing to our new service daily and weekly so you don’t miss anything of the Tremplin.io essentials!
