Alameda wallets transferring stablecoins amid USDC’s depeg

Through the weekend, a pockets related to the liquidators of the Alameda Analysis property despatched nicely over $100 million in stablecoins to Cumberland and GSR Markets.

Amid that first switch, on March 14, stablecoins price $188.5 million had been once more transferred from three extra wallets related to FTX and Alameda to different prime exchanges.

On March 13, over $47 million price of USDC was despatched to GSR Markets. A complete of $50.3 million was despatched to Cumberland throughout two transactions, in accordance with on-chain evaluation performed by Arkham Intelligence.

USDC was one of many cryptocurrencies affected by a depeg over the weekend as a result of banking considerations in america.

The three prime exchanges amongst those that acquired funds from the Alameda pockets

In accordance with the blockchain detective Lookonchain, three extra wallets beforehand linked to FTX and Alameda despatched $188.58 million to the cryptocurrency exchanges Coinbase, Kraken, and Binance.

It isn’t obvious if the cash is being invested in making a yield or whether or not the chapter officers are consolidating the funds.

What subsequent after FTX and Alameda

After the failure of FTX and Alameda in November, the newly appointed chief govt officer (CEO) of FTX, John J. Ray III, who was paid $690,000 for his first two months within the submit, has been pondering by means of a variety of choices to make collectors complete.

One chance is to restart the FTX alternate.

In a January interview with the Wall Avenue Journal, Ray mentioned, “all the pieces is on the desk.” If there’s a approach to go forward with it, then we won’t solely examine that chance, however we may even implement it.

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