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Wallets linked to defunct crypto buying and selling companies FTX and Alameda Analysis moved $10.8 million to accounts in Binance, Coinbase and Wintermute utilizing eight cryptocurrencies.

Blockchain evaluation agency Spot On Chain noticed the motion, estimating that the defunct entities have transferred $551 million since Oct. 24 utilizing 59 completely different cryptocurrency tokens.

The most recent switch of $10.8 million was unfold throughout eight tokens: $2.58 million in StepN’s GMT (GMT), $2.41 million in Uniswap’s UNI (UNI), $2.25 million in Synapse’s SYN, $1.64 million in Klaytn’s KLAY, $1.18 million in Fantom’s FTM (FTM), $644,000 in Shiba Inu (SHIB) and small quantities of Arbitrum’s ARB and Optimism’s OP.

On Oct. 24, the FTX and Alameda wallets transferred $10 million to a single pockets tackle, which was later redistributed to Binance and Coinbase accounts. On Nov. 1, the same transaction occurred between the events involving $13.1 million being moved to Binance and Coinbase accounts.

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The funds’ motion dates again to March, when FTX and Alameda started the method of recovering belongings for traders. On the time, three wallets related to FTX and Alameda Analysis moved $145 million worth of stablecoins to varied platforms, together with Coinbase, Binance and Kraken.

Out of the lot, $69.64 million in Tether (USDT) was moved to custodial wallets on crypto exchanges, whereas the remaining 75.94 million USD Coin (USDC) was transferred to a Coinbase custodial pockets.

Whereas the troubled cryptocurrency alternate had recovered over $5 billion in money and liquid cryptocurrencies on the time, its complete liabilities exceeded $8.8 billion.

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