February 6, 2023

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FTX collapsed into bankruptcy, dragging along with it a number of businesses it had been working with at the time.

Briefly stated, FTX currently owes its top 50 creditors more than $3 billion. Still, the Alameda company was able to pull away the most money from FTX before it failed.

The way Alameda got the money

The majority of the money from FTX, or about $204M, was withdrawn by Alameda Research on November 25, 2022, according to reports from analysis by Arkham Crypto Intelligence.

The crypto analytic firm also discovered eight distinct wallets that were used by Alameda to draw back the total amount of more than two-hundred-million-dollars in different electronic possessions.

The amount transferred to wallets owned by FTX International was almost one-hundred-and-fifty-million dollars (about seventy percent of all assets) according to information provided by Arkham. 

It implies that Alameda might have served as a conduit among the 2 businesses. Even more researchers approve that Alameda just retreated USD-related stablecoins from FTX.

According to Arkham, the address holding the financial assets was sizable, operational in OTC-based exchanging, and yet inducting coin deals and trading operations. 

Additionally, based on multiple research works, Alameda appears to have divided the USD- based stablecoins among different tokens that are the most popular ones now. 

How Alameda divided all its assets into different tokens

The possessions were split up into different crypto assets as Alameda withdrew them and transferred them to FTX and other exchange platforms.

That consists of thirty-two million USDT transferred to FTX and ten million tokens sent to Binance after being converted to USDC. 

To put it in simple terms, the company of Alameda got the money back with the most just days before the FTX scandal started, and two-hundred-thousand-dollars was withdrawn by the Alameda from FTX, as stated in the recently published report by US investigators on the 6th of November.

From all the money, about one hundred and a half million dollars was secured to CEX and much more was transferred to other crypto wallets or left in trading operations.


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