Nansen, a blockchain analytics company, has documented a sequence of asset transfers originating from FTX to a Binance address.
The transferred assets, totaling $8.6 million, included $2.2 million in Chainlink (LINK), $1 million in Aave (AAVE), $2 million in Maker (MKR), and $3.4 million in Ether (ETH).
These assets had their origins in addresses associated with FTX and its former sister company, Alameda Research, as per on-chain data.
The initial transfer went to an address labeled as 0xde9 and was subsequently forwarded to another address, 0xEae, identified as belonging to Binance by Nansen.
It’s important to note that Nansen doesn’t monitor off-chain activities but has suggested that these significant transfers may be a prelude to asset sales.
In September, the FTX estate was granted permission to begin selling its cryptocurrency holdings, initially limited to $100 million per week. Analysts are closely observing the subsequent moves of FTX and Alameda in light of these substantial asset transfers.
The FTX exchange recently staked over 5.5 million Solana valued at $122 million from one of its primary wallets. The FTX estate, under the management of a bankruptcy trustee, aims to maximize the assets of the exchange. While there have been notable setbacks in asset recoveries, such as the premature sale of SUI tokens, the estate continues to regain assets.
The perceived value of the Anthropic shares it holds has bolstered the value of creditor claims on the open market, with some claims exceeding 50 cents on the dollar.
Furthermore, Sam Bankman-Fried, the former CEO of the now-defunct exchange, is currently facing trial on fraud charges.