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Many tokens held by Sam Bankman-Fried’s embattled investing device Alameda Research were marketed late on Wednesday to the tune of tens of millions of bucks, as the the firm’s founders deal with felony charges associated to the collapse of Alameda and FTX.
Onchain info cited by crypto research business Arkham Intelligence prompt some $1.7 million worth of tokens from Alameda-linked wallets ended up sold in the open up market place above a span of several hours on Wednesday. The gross sales sparked issues about sparking a steep tumble in the selling prices of individuals tokens among the some Crypto Twitter consumers.
On-chain info confirmed Ethereum-based mostly tokens this sort of as USD Coin (USDC), dai (DAI), curve (CRV), ether (ETH), convex (CVX) and other people were being consolidated from numerous wallets to just two wallets, and later on offered for tether stablecoins (USDT).
The value of the transactions ranged from a fraction of ether to in excess of 15 ether, the on-chain info demonstrates. The holdings had been then converted into bitcoin working with swapping products and services like FixedFloat and ChangeNow, on-chain sleuth ZachXBT famous in a tweet.
As for each Arkham Intelligence facts, Alameda nevertheless holds more than $112 million worth of various cryptocurrencies, down from $140 million held in mid-November, as CoinDesk formerly reported.
FTX, a crypto trade, filed for bankruptcy in November soon after revelations that Alameda, a hedge fund that Bankman-Fried also owned, was largely backed by FTT tokens, digital property that FTX developed out of skinny air.
