Wallets associated with defunct crypto trading firms FTX and Alameda Research have recently moved $10.8 million across major cryptocurrency exchanges. These funds, originating from addresses linked to collapsed FTX and Alameda entities, were distributed in eight different cryptocurrencies. This transaction is part of a broader effort initiated in March 2023 to recover assets for investors. The funds were distributed across various cryptocurrencies, including StepN GMT, Uniswap UNI, Synapse SYN, Klaytn KLAY, Fantom FTM, Shiba Inu SHIB, Arbitrum ARB, and Optimism OP. This is not the first instance of fund movement from FTX and Alameda wallets, as a substantial $24 million in crypto assets were transferred in November 2023. The ongoing recovery process has seen the movement of $145 million worth of stablecoins to various platforms. A U.S. court has approved a plan to sell FTX’s digital assets to settle creditor claims, but challenges persist with a recent lawsuit filed against ByBit and its investment arm Mirana. The lawsuit seeks to retrieve an estimated $1 billion worth of funds and digital assets. The cryptocurrency landscape is witnessing intriguing developments as FTX and Alameda Research navigate recovery efforts amidst legal challenges.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	1
People	John J. Ray III
Companies	FTX, Optimism, Mirana, Shiba Inu, U.S. court, Wintermute, Klaytn, StepN GMT, Alameda Research, OKX, Synapse, Spot On Chain, Fantom, Coinbase, ByBit, Arbitrum, Uniswap, Binance, Kraken
Currencies	Synapse, Fantom, STEPN, Klaytn, Uniswap
Securities	None