FTX Liquidator Transfers BIT and RAY Tokens, Market Reacts

Alameda Research just transferred 72.6 million BitDAO (BIT) tokens—around $64.4 million—to Mirana Ventures. Alameda also got 10.335 million USDC and 28.4 million USDT from Mirana around 20 hours back.

On-chain analysis platform PeckShield said the FTX liquidator also transferred 378,000 Raydium (RAY) tokens—around $1.99 million—to Binance. This could mean the liquidator is going to sell the tokens. BIT and RAY could both become volatile in the short term.

#PeckShieldAlert #FTX Liquidator Main Wallet has transferred 378K $RAY (worth ~$1.99M) to #Binance pic.twitter.com/vmDFfiBpcr

— PeckShieldAlert (@PeckShieldAlert) December 4, 2024

No one knows why these transfers happened, but BIT went up 5.31% in the past 24 hours, and RAY went up 5.44%. BIT is currently $0.9606, and RAY is $5.18, according to CoinMarketCap data.

Alameda Research Holdings

Arkham data shows that the Alameda Research wallet has $274 million. The bankrupt firm has 98.8 million BIT tokens, which are worth $90.31 million.

These BIT tokens are part of an agreement between Alameda and BitDAO. BitDAO is a major decentralized autonomous organization backed by Bybit, Pantera, billionaire Peter Thiel, and others. In the deal, Alameda had to hold 100 million BIT tokens that it got in November 2021 when it converted 3.36 million FTT tokens.

US Government Transfers FTX Funds

The United States government also transferred some of the FTX/Alameda seized funds. The transfer included 5024 ETH (around $18.17 million), 13.58 million BUSD, 54.89 billion SHIB (around $1.55 million), and other tokens.

Read also: Andreessen Was Right Despite FTX’s Partial Success – Musk and Nawfal

Interestingly, the US government’s wallet holds $19.4 billion in assets. This includes over 198,000 Bitcoin, worth approximately $18.99 billion with the wallet also holding $200 million in ETH.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Source