According to an analysis of FTX US flows from Arkham on November 25, Alameda Research withdrew the most funds, at $204M before it filed for bankruptcy.
In a thread on Twitter, Arkham disclosed that in the final few days before the collapse, Alameda Research, FTX’s sister firm, took $204 million in various crypto assets, most of which were stablecoins, the blockchain firm also determined eight different FTX US accounts that Alameda conducted the withdrawals.
Alameda only withdrew USD-stable tokens, Wrapped BTC or Ether from FTX US. In particular, the analysis showed that $38.06 million (18.7%) was in wrapped Bitcoin (wBTC), and $49.49 million (24.2%) of the funds was in Ether (ETH), while $116.52 million (57.1%), were in stablecoins pegged to the US dollar.
In the total $204 million withdrawal, $142.4 million (69.8% of the total) was sent to FTX International’s wallets.
Suggesting that Alameda may have been operating to bridge between the two entities
Arkam tweeted.
As for the ETH, $35.52 million was sent to FTX and $13.87 million was sent to a large active trading wallet which is unknown whether $13.87 million in ETH was sent to 0xa20 as part of a trade, or as an internal fund transfer within Alameda.
Beside that, $10.4 million USDT was sent to the rival cryptocurrency exchange Binance.
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