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    HomeBitcoinAlameda wallets sell multiple tokens for Bitcoin

    Alameda wallets sell multiple tokens for Bitcoin


    • Alameda Analysis addresses despatched hundreds of thousands price of tokens to decentralised exchanges and crypto mixers on Wednesday.
    • In accordance with on-chain knowledge, the tokens have been swapped into USDT earlier than being transformed into Bitcoin.
    • The Alameda wallets sprung into life a number of days after FTX co-founder Sam Bankman-Fried was launched on a $250 million bail.

    Crypto wallets linked to Alameda Analysis, the quant buying and selling arm of collapsed cryptocurrency change FTX, have been massively energetic on Wednesday, on-chain knowledge reveals.

    The Alameda addresses, as knowledge shared on-line confirmed, actively offered a number of small cap cryptocurrencies, swapping these for Bitcoin and in some circumstances Ethereum.

    Alameda sells hundreds of thousands price of tokens

    In accordance with particulars shared on Twitter by Martin Lee, a knowledge journalist at blockchain analytics platform Nansen, there have been a number of odd transactions that appeared to swap tokens in Alameda wallets for Ethereum and Tether stablecoin USDT.

    The funds have been then despatched to new wallets by way of decentralised exchanges (DEXs), together with ChangeNow and FixedFloat.

    Elsewhere, on-chain knowledge shared by blockchain analysis agency Arkham Intelligence pointed to Alameda wallets offloading over $1.7 million in numerous tokens.

    In accordance with the platform, the gross sales occurred on the open market – a state of affairs that probably was behind the sharp drop in costs for a number of tokens. The Ethereum-based cryptocurrencies the wallets offered embody Ether (ETH), Curve (CRV), USD Coin (USDC), Dai (DAI), and convex (CVX).

    The tokens have been despatched to 2 wallets, swapped for USDT after which transformed into BTC, blockchain sleuth ZachXBT tweeted on Wednesday.

    The Alameda wallets got here alive after weeks of dormancy, with these transactions intensifying as former FTX CEO Sam Bankman-Fried settled at house following launched from jail on a $250 million bail. The sale of a number of tokens additionally coincided with a pointy worth decline for Solana (SOL).

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