Alameda-Linked Address Withdraws $2 Million in FTT – What’s In Store Crypto Market?

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The post Alameda-Linked Address Withdraws $2 Million in FTT – What’s In Store Crypto Market? appeared first on Coinpedia Fintech News

After a whopping $13 million worth of assets was transferred to the consolidation wallet of Alameda Research, a new development suggests that there was a $2 million withdrawal by an Alameda-linked address labeled “brokenfish.eth”.

In one of the most recent updates from the crypto analytics platform, Arkham Intelligence, the money was taken out of BentoBox, a smart contract serving as the hub of the entire Sushi ecosystem, by the brokenfish.eth address. FTT, the FTX exchange’s native token, accounted for the majority of the withdrawal amounts.

Alameda and Sushiswap have a long relationship that began in 2020, when Sam Bankman-Fried (SBF) assumed control of the decentralized exchange protocol after its chief developer, Chef Nomi, pulled the community under his sleeve.

Apart from the $12 million, Bitfinex sent cryptocurrency to Alameda Research valued roughly $8.5 million, according to PeckShield. It was also reported that the FTX’s sister company received 1.545 ETH (about $2.5 million), 6 million USDT (or $6 million), and 4.6 million USDC. 6 million USDT and 1,545 ETH were sent from Bitfinex out of these assets.

The transfer is currently unknown, however, it takes place barely one day after the founder of FTX and Alameda Research Sam Bankman-Fried was given a temporary communication ban by both companies.

On November 11, Alameda filed for bankruptcy.  Since then, several deposits from numerous addresses have resulted in the accumulation of almost $183 million in other altcoins, including $54 million in BitDAO tokens, as well as more than $26 million in ETH in the consolidation wallet.

Nevertheless, the sum recovered might be higher given that liquidator are said to have lost over $11.5 million since gaining possession of Alameda’s trading accounts, some of which were avoidable, according to a study by crypto analytics firm Arkham Intelligence.