1 year ago
Addresses linked to defunct crypto speech FTX transferred much than $10 cardinal successful integer assets to Coinbase and Binance during the aboriginal hours of today, Oct. 25, according to on-chain data.
Data from the Arkham Intelligence level indicates that the assets progressive successful this transportation encompass 2,904 Ethereum (equivalent to $5.18 million), 1,341 Maker (with a worth of $2.02 million), 198,000 Chainlink (approximately $2.26 million), and 12,000 AAVE (totaling astir $1.03 million).
It is unclear if the transfers are connected to the exchange’s bankruptcy proceedings. However, the timing of the transactions has sparked concerns wrong the crypto community, considering the caller greenish tally of the broader crypto market.
These transactions are successful enactment with FTX’s caller activities. FTX staked Ethereum and Solana assets valued astatine $150 cardinal earlier this month. In September, the speech disclosed its intentions to migrate bridged tokens from assorted networks to their autochthonal blockchains.
FTX did not respond to a petition for remark arsenic of property time.
FTX considering imaginable cognition restart
FTX is reportedly contemplating a relaunch of its trading operations. Kevin Cofsky, an concern banker for the exchange, revealed that the steadfast is actively reviewing proposals from 3 entities.
During a tribunal hearing, Cofsky indicated that the relaunch could hap independently oregon via a strategical partnership, and the speech could adjacent beryllium sold. A last determination connected the way guardant volition beryllium reached by mid-December.
Speculation surrounding the relaunch of FTX Exchange has circulated since January, initiated by CEO John Ray’s enactment of a task unit to research the feasibility of restarting FTX.com.
This thought has garnered enactment from erstwhile FTX users who presumption a reboot arsenic a much advantageous way than a implicit liquidation.
In a caller development, FTX has unveiled a projected colony strategy that could instrumentality implicit $9 cardinal successful lawsuit funds by 2024. Under this plan, speech users could perchance recoup up to 90% of their frozen assets.
The station Bankrupt FTX shifts $10M successful assets to Coinbase and Binance appeared archetypal connected CryptoSlate.
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