FTX and Alameda Moves $23 Million More to Exchanges

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    Over the past four days, more than $23 million in cryptocurrencies have been transferred from wallets associated with now-defunct crypto trading companies FTX and Alameda Research.

    According to SpotonChain, the funds were transferred to top exchanges such as Binance, Coinbase, and OKX.

    This is part of an estimated $591 million transferred from troubled companies using 59 different crypto tokens since October 24th.

    The latest transfers were across 19 tokens including Ethereum, Curve DAO, Avalanche, and Chainlink. Additionally, $6 million in assets including Dogecoin, Polygon, and Solana were transferred to the exchange.

    The wallet transfer is believed to be part of efforts by FTX to recover assets for investors following the exchange's dramatic collapse in November 2022.

    While more than $5 billion in cash and liquid cryptocurrencies were recovered, FTX still faces $3.8 billion in outstanding debt.

    Also read: FTX challenges IRS's $24 billion tax bill in bankruptcy court


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