FTX exchange is seeing flurry of transfers
According to Crypto Data Tracker whale alert, over 71 million XRP flowed into the FTX exchange in recent hours. This move was done in two transactions: the first was 35,774,039 XRP The price was $16,631,186, and the other was 35,615,409 XRP worth $16,557,439; Both were transferred from an unknown wallet to the FTX exchange.
The FTX exchange is seeing a flurry of transfers in the wake of Binance’s decision to liquidate its FTT holdings and the controversy surrounding Alameda’s balance sheet.
According to data from Nansen, 26,600 ETH was transferred from Alameda to FTX on the previous day. Similarly, large amounts of stablecoins from wallets on Huobi, OKEx, Kucoin and other exchanges have moved to and away from the FTX exchange.
Cyber security intelligence firm PeckShield reports that, on the previous day, Jump Trading withdrew around 40.4 million USDC from FTX. A total of $109.8 million worth of cryptocurrency, including 56,432 ETH and around $13.9 million in stablecoins, were transferred from FTX to crypto lending platform Nexo.
Woo Blockchain The report noted that FTX stablecoin net outflows were the largest of any exchange over the past seven days at $292 million.
Changpeng “CZ” Zhao, CEO of Binance, announced on Sunday that his cryptocurrency exchange is liquidating its holdings of FTT, a competitor exchange, FTX’s, native asset.
Zhao mentioned “recent revelations that have come to light”, but did not make any further mention of them publicly or answer questions about them.
Etherscan reports that on Saturday, 22,999,999 FTT, worth $584 million at the time – or almost 17% of the FTT in circulation – was moved from a wallet to the Binance exchange. CZ acknowledged that the relocated funds were part of the exchange’s decision to sell its holdings in FTT.
