These asset shifts have also been constantly noticed ever since FTX filed for bankruptcy, leaving many to speculate about the rationale behind the moves.
According to a recent tweet by Spot on Chain, crypto accounts linked to the collapsed crypto exchange FTX and its sister trading firm Alameda Research executed over $10 million worth of token transfers across six currencies within a 12-hour span. These movements involve a part of the remaining digital assets still controlled by FTX bankruptcy administrators. The frequency and strategies behind the withdrawals have kept many wondering why it is happening.
In the tweet, Spot on Chain laid out the specifics of the transfers, which included over $2 million worth of tokens such as StepN (GMT) worth around $2.58M, Uniswap (UNI) of $2.41M,