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News

Shocking: Alameda County Goes Bankrupt After Receiving $8.3M In Cryptocurrency From OKX!

May 31, 2023 - Around 2 mins mins to read

Key Points:

  • OKX sends $8.3M crypto assets to bankrupt Alameda Research in multiple transactions over 7 days.
  • Top transfers involve WBTC, DAI, LEO, MIM, and SHIB, cumulatively worth $4.8M.
  • Alameda transfers funds to Coinbase, sending USDT worth $10M in 24 hours and depositing $31.2M to the U.S.-based exchange in the past week.
OKX has sent $8.3 million worth of cryptocurrency assets to Alameda Research in the past seven days through multiple transactions.
Alameda County Goes Bankrupt After Receiving 8.3M In Cryptocurrency From OKX

The transfers, which occurred on May 29, consisted of different cryptocurrencies, including Wrapped Bitcoin (WBTC), Celsius (CEL), Shiba Inu (SHIB), MakerDAO (MKR), Chiliz (CHZ), DAI, Axie Infinity (AXS), Magic Internet Money (MIM), and 19 others. The transfers involving WBTC, DAI, LEO, MIM, and SHIB were the top 5 with the highest monetary values, valued at a total of $4.8 million.

image 1684

The exchange initially sent a series of test transactions involving all these assets to Alameda on May 23, with the transactions being worth $10 each. These transactions were intended to return FTX and Alameda’s frozen funds on the OKX platform. In March, OKX seized $157 million in cryptocurrency assets after FTX collapsed in November 2022. The latest transfers continue OKX‘s efforts to return these funds to their rightful owners.

Meanwhile, Alameda Research is transferring its leftover funds to Coinbase. In the past week, the bankrupt firm has transferred $10 million worth of USDT from its cold wallets to Coinbase Prime and deposited $31.2 million to the U.S.-based exchange. According to Arkham Intelligence, Alameda has transferred more than $250 million to Coinbase over the past month.

image 1685

Alameda’s wallet contains digital assets worth approximately $314.7 million. Its largest holding is $56.4 million worth of USDT, followed by 100 million BitDAO (BIT) tokens valued at $51.4 million.

Its other top holdings include 19,292 Ethereum (ETH) worth $36.6 million, $12.35 million USDC, 40.45 million Stargate tokens worth $28.82 million, and 16.39 million Polygon tokens worth $14.74 million. The wallet also contains a significant amount of altcoins like DAI, MASK, Lido (LDO), FTX Token (FTT), Serum (SRM), and more.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Annie

Coincu News

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Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
News

Shocking: Alameda County Goes Bankrupt After Receiving $8.3M In Cryptocurrency From OKX!

Key Points:

  • OKX sends $8.3M crypto assets to bankrupt Alameda Research in multiple transactions over 7 days.
  • Top transfers involve WBTC, DAI, LEO, MIM, and SHIB, cumulatively worth $4.8M.
  • Alameda transfers funds to Coinbase, sending USDT worth $10M in 24 hours and depositing $31.2M to the U.S.-based exchange in the past week.
OKX has sent $8.3 million worth of cryptocurrency assets to Alameda Research in the past seven days through multiple transactions.
Alameda County Goes Bankrupt After Receiving 8.3M In Cryptocurrency From OKX

The transfers, which occurred on May 29, consisted of different cryptocurrencies, including Wrapped Bitcoin (WBTC), Celsius (CEL), Shiba Inu (SHIB), MakerDAO (MKR), Chiliz (CHZ), DAI, Axie Infinity (AXS), Magic Internet Money (MIM), and 19 others. The transfers involving WBTC, DAI, LEO, MIM, and SHIB were the top 5 with the highest monetary values, valued at a total of $4.8 million.

image 1684

The exchange initially sent a series of test transactions involving all these assets to Alameda on May 23, with the transactions being worth $10 each. These transactions were intended to return FTX and Alameda’s frozen funds on the OKX platform. In March, OKX seized $157 million in cryptocurrency assets after FTX collapsed in November 2022. The latest transfers continue OKX‘s efforts to return these funds to their rightful owners.

Meanwhile, Alameda Research is transferring its leftover funds to Coinbase. In the past week, the bankrupt firm has transferred $10 million worth of USDT from its cold wallets to Coinbase Prime and deposited $31.2 million to the U.S.-based exchange. According to Arkham Intelligence, Alameda has transferred more than $250 million to Coinbase over the past month.

image 1685

Alameda’s wallet contains digital assets worth approximately $314.7 million. Its largest holding is $56.4 million worth of USDT, followed by 100 million BitDAO (BIT) tokens valued at $51.4 million.

Its other top holdings include 19,292 Ethereum (ETH) worth $36.6 million, $12.35 million USDC, 40.45 million Stargate tokens worth $28.82 million, and 16.39 million Polygon tokens worth $14.74 million. The wallet also contains a significant amount of altcoins like DAI, MASK, Lido (LDO), FTX Token (FTT), Serum (SRM), and more.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Annie

Coincu News

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