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Three crypto wallets belonging to FTX and Alameda Research have transferred $145M worth of Tether (USDT) and USD Coin (USDC) tokens to crypto exchanges.
The 3 addresses related to FTX/Alameda transferred 69.64M $USDT to the address "0xad6e", among which 43M $USDT was transferred to #Coinbase, #Binance and #Kraken.
— Lookonchain (@lookonchain) March 14, 2023
And transferred 75.94M $USDC to #Coinbase Custody Wallet. pic.twitter.com/MqvCA87ItD
In a recent tweet, data analysis firm Lookonchain said the wallets affiliated with FTX first transferred $69.6M in USDT to a wallet with the address "0xad6e." The firm that $43M from this sum were sent to crypto exchanges Binance, Coinbase, and Kraken.
FTX and Alameda Research also sent USDC tokens worth $75.9M to a Coinbase wallet.
FTX, and its subsidiaries had consolidated all their assets at the three wallets after the FTX Group filed for chapter 11 bankruptcy in November 2022.
FTX has yet to provide the reason behind the stablecoin transfers.
The news came a few weeks after Alameda Research filed a $446M lawsuit against Voyager Digital for allegedly channeling FTX users’ assets to Alameda. Last week, Bankruptcy judge John Dorsey granted approval to Voyager to set aside $445M in case the bankrupt lender loses the case against Alameda.
FTX also sued Grayscale Investments and Digital Currency Group for not allowing customers to redeem their assets from Grayscale’s Bitcoin (BTC) and Ethereum (ETH) trusts.