Alameda Research Moves 3000 Bitcoin Amid FTX Debacle

According to PeckShield, Alameda Research is moving its holdings in bitcoin early.

- Advertisement -

The wallets of Alameda Research, showed strong withdrawal movements on Wednesday, amid the crisis unleashed in the wake of the purchase intention (already denied) of Binance, one of its main competitors.

As reported by blockchain analytics firm PeckShield, Alameda Research withdrew 3,000 Wrapped BTC (wBTC), which has 1:1 parity with the first cryptocurrency, three hours ago. This an equivalent of about USD 50 million.

According to PeckShield, many of the withdrawals were made through the Aave lending protocol, from where movements were reported since the early hours of Wednesday, November 9, as shown by Etherscan.

The withdrawal of funds from Alameda Research comes after its website was disabled, as well as its social networks, where most of the publications were deleted. FTX’s website also disappeared.

Alameda’s move comes after Binance, the largest exchange by trading volume, decided to abandon its acquisition of FTX. This was an exchange that once ranked in the top 3 of the market, with volumes exceeding USD 4 billion, according to CoinMarketCap data.

As reported, Binance objected to continue with the negotiation because of the “mismanagement of funds” maintained by FTX.

Thus, Chanpeng Zhao’s company discarded the plans expressed yesterday, Tuesday, when an acquisition deal had been initiated.

After learning of Binance’s decision and the virtual disappearance of Alameda Research, the price of bitcoin embarked on a vertiginous fall, dragging the rest of the market down with it.

- Advertisement -
- Advertisement -
- Advertisement -

Latest

- Advertisement -

Must Read

Read Next
Recommended to you

BitNewsBot.com