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

Crypto wallets linked to Alameda Research, the quant buying and selling arm of collapsed cryptocurrency alternate 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 tens of millions price of tokens

According to particulars shared on Twitter by Martin Lee, an information journalist at blockchain analytics platform Nansen, there have been multiple 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 complete, Alameda-related wallets have combined:

270.5Eth via ChangeNOW (~$325k)
800k USDT via Fixedfloat
200k via Curve SynthSwap (to native BTC)
200k via Airswap
200k via different crypto-mixing providers

reaching a complete of $1.7M that has been taken.

— Arkham | Crypto Intelligence (@ArkhamIntel) December 28, 2022

According to the platform, the gross sales occurred on the open market – a situation that possible was behind the sharp drop in costs for a number of tokens. The Ethereum-based cryptocurrencies the wallets offered embrace 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 multiple tokens additionally coincided with a pointy worth decline for Solana (SOL).