Alameda wallets sell multiple tokens for Bitcoin

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  • Alameda Research addresses sent millions worth of tokens to decentralized exchanges and crypto mixers on Wednesday.
  • According to on-chain data, the coin was swapped for USDT before being converted to bitcoin.
  • The Alameda wallet came to life days after FTX co-founder Sam Bankman-Fried was released on $250 million bail.

crypto wallet The Quant trading arm of collapsed cryptocurrency exchange FTX, affiliated with Alameda Research, was widely active on Wednesday, on-chain data show.

Alameda’s addresses, as data shared online showed, actively sold, swapped, and sold multiple small-cap cryptocurrencies. Bitcoin And in some cases Ethereum.

Alameda sells tokens worth millions

as per description shared On Twitter by Martin Lee, a data journalist at blockchain analytics platform Nansen, there were several strange transactions that appeared to swap tokens in Alameda Wallet for Ethereum and Tether stablecoin USDT.

The funds were then sent to the new wallet through decentralized exchanges (DEXs) including ChangeNow and FixedFloat.

Elsewhere, on-chain data shared by blockchain research firm Arkham Intelligence pointed to an Alameda wallet containing over $1.7 million in various tokens.

According to the platform, the sale took place on the open market – a scenario that may be behind the sharp decline in the prices of many coins. Ethereum-based cryptocurrencies sold include Ether (ETH), Curve (CRV), USD Coin (USDC), Dai (DAI), and Convex (CVX).

Tokens sent to two wallets, swapped for USDT and then converted to BTC, blockchain sleuth ZachXBT Tweeted on Wednesday.

Almeida’s wallet came alive after weeks of inactivity, with these transactions booming as former FTX CEO Sam Bankman-Fried settled in at home after being released from prison on $250 million bail. Multiple token sales also coincided with a sharp price drop for Solana (SOL).

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