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On-chain data indicates that bankrupt crypto exchange FTX suddenly moved $36 million worth of altcoins to leading exchanges.<\/p>\n
According to on-chain analytics firm Lookonchain, FTX transferred<\/a> massive amounts of Polygon (MATIC<\/a>) and Avalanche (AVAX<\/a>) to top crypto exchanges Coinbase and Binance.<\/p>\n \u201cIn the past 24 hours, FTX transferred a total of ~$36 million in assets to exchanges.<\/em><\/p>\n Deposited 12.6 million MATIC ($9.4 million) to Coinbase.<\/em><\/p>\n Deposited 10 million MATIC ($7.45 million) to Binance via FalconX.<\/em><\/p>\n Deposited 975,859 AVAX ($19.25 million) to Binance via FalconX.\u201d<\/em><\/p>\n Polygon is trading for $0.78 at time of writing, up 5% in the last 24 hours. Meanwhile, Avalanche is trading for $21.09 at time of writing, up 4.2% in the last 24 hours.<\/p>\n FTX\u2019s transfers come among other bankruptcy decisions regarding the defunct platform\u2019s digital asset holdings.<\/p>\n Earlier this month, FTX asked<\/a> a judge for permission to sell off $744 million worth of Grayscale and Bitwise assets through an investment adviser.<\/p>\n As of October 28th, Lookonchain tallied<\/a> $78.7 million in assets that were transferred out of the FTX bankruptcy estate, including the native coins of smart contract platforms Solana (SOL<\/a>) and Ethereum (ETH<\/a>), decentralized oracle networks Chainlink (LINK<\/a>) and Band Protocol (BAND<\/a>), and multi-chain platform Polygon.<\/p>\n FTX also staked<\/a> a massive amount of Solana. According to blockchain explorer SolanaFM, the address associated with FTX and its trading arm Alameda Research created a\u00a0stake of 5,546,217.04 SOL tokens last month.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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