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US gov moves $33 million in seized crypto from FTX to unknown addresses: Arkham

US gov moves $33 million in seized crypto from FTX to unknown addresses: Arkham

The BlockThe Block2024/12/02 16:00
By:The Block

Quick Take On Tuesday, the U.S. government transferred a total of $33.6 million worth of crypto from its “FTX Alameda Seized Funds” wallets to two unidentified addresses, according to Arkham data. The amount includes 5,024 ether and 13.5 million BUSD.

US gov moves $33 million in seized crypto from FTX to unknown addresses: Arkham image 0

The U.S. government has moved about $33.6 million worth of cryptocurrency from its wallet — which held part of the funds seized from the collapsed crypto exchange FTX and trading firm Alameda — to two unidentified addresses.

On Tuesday, the government made multiple transactions that included transfers of 5,024 ether, or about $18 million, to two addresses starting with “0x9cd” and “0x9ac,” according to data from Arkham Intelligence.

The government wallets, labeled by Arkham as “FTX Alameda Seized Funds,” also moved $13 million in BUSD, $1.5 million in SHIB and a variety of other tokens to the two addresses. These include AERGO, POWR, AXS, YFI, WBTC, NMR, COMP, SRM, and RLC.

The transfers came in the wake of a market-wide crypto rally. Ether edged up 0.3% in the past 24 hours to trade at $3,643, up from $2,460 a month ago.

Notably, Ethereum's onchain volume in November reached $183.74 billion , marking its highest monthly volume recorded year-to-date. 

“This increase is likely driven by capital rotation, as market participants move down the risk curve, reallocating funds from CEXs to onchain activities,” The Block Research wrote in a newsletter this week.


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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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