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FTX Moves Millions Worth of LINK, MATIC, AGLD to Coinbase as Sam Bankman-Fried Testifies
The latest transactions followed $19 million worth of crypto moved from FTX cold wallets to exchanges.
Bankrupt crypto exchange FTX moved another batch of crypto assets worth millions including Chainlink's LINK and Polygon's MATIC Thursday afternoon, blockchain data revealed.
Some $2.6 million in LINK and $1.3 million in adventure gold [AGLD] were deposited to Coinbase originated from FTX-related crypto wallets, on-chain sleuth Lookonchain noted in a X post.
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UPDATE:
— Lookonchain (@lookonchain) October 26, 2023
FTX/Alameda sold 253,862 $LINK($2.67M) and 1.59M $AGLD($1.34M) ~30 minutes ago.https://t.co/zrYDn41Ja8 pic.twitter.com/YDGCvs8Z0w
Another $4.8 million in MATIC left an FTX wallet to an intermediary address, which then transferred a $1.8 million chunk of the tokens to Coinbase, blockchain analytics platform Arkham Intelligence data showed.
Earlier today, some $19 millions worth of crypto including solana [SOL] and ether [ETH] left FTX cold wallets and were deposited to exchanges.
The deposits potentially signal an intention to sell tokens. A U.S. bankruptcy court last month granted FTX permission to sell, stake and hedge its $3.4 billion worth digital asset stash after the company tapped Galaxy Digital to manage the token holdings.
The transactions happened as Sam Bankman-Fried, the founder of FTX and its sister trading firm Alameda Research, was scheduled to testify at his criminal trial Thursday afternoon.
Krisztian Sandor
Krisztian Sandor is a U.S. markets reporter focusing on stablecoins, tokenization, real-world assets. He graduated from New York University's business and economic reporting program before joining CoinDesk. He holds BTC, SOL and ETH.
