Bitcoin and altcoin trading platform Alameda, which has been on the agenda with its collapse and bankruptcy since November 2022, sees activity in its funds, despite the legal struggle it is in. Here is the movement of addresses that are thought to be related to Alameda recently, according to on-chain data.
Alameda transfers these altcoin projects
Despite being in the process of bankruptcy along with the FTX exchange, addresses associated with Alameda Research are still recording active transactions. A $2 million withdrawal was recorded by an Alameda-linked address labeled “brokenfish.eth,” according to the latest updates from crypto analytics platform Arkham Intelligence. According to the shared update, breakfish.eth withdrew funds from BentoBox, a smart contract that acts as the central vault for the entire Sushi ecosystem. The withdrawal funds were dominated by FTX’s native token, FTT. Also, in the tweet shared by Arkham, transfers from Sushiswap (SUSHI) wallets and Convex Finance (CVX) prize pool wallet drew attention.
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The Alameda address 'brokenfish.eth' just pulled out $2M of FTT from BentoBox in the past 10 minutes.
Taking bets on what is going to happen next… pic.twitter.com/paYc7K9aIF
— Arkham (@ArkhamIntel) February 6, 2023
In line with these transfers, 1.2 million FTT, approximately 3,000 MIM, 620.332 CVX and 22.155 Curve DAO (CRV) coins were in transaction. The most loaded among them was FTT transfers over $2 million.
Alameda’s funds are popping up in every facet of the crypto space
The reasons behind the withdrawal remain a mystery as the related wallet activities have been linked to Alameda addresses in the past. The history between Alameda and Sushiswap goes back to 2020, when Sam Bankman-Fried (SBF), as we reported on Cryptokoin.com, took over ownership of the decentralized exchange protocol following the disappearance of the protocol’s developer, Chef Nomi.
The withdrawal of funds also underlined how pervasive influence Alameda Research has in the burgeoning digital currency ecosystem and world of DeFi. It remains unclear how much funds Alameda Research has left in the BentoBox protocol and what the future withdrawal rates will be. The bankruptcy proceedings of FTX and Alameda Research showed that the current management of the group of companies is interested in reclaiming all funds tied to the exchange and its subsidiaries in order to repay all its creditors.
The withdrawal of FTT tokens could be approved by the company’s current CEO, John Ray III. While there is no direct evidence linking the transaction to the decision of the exchange’s leaders, the withdrawal is unlikely to result from a hacking or any other suspicious activity as previously recorded.
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