Disgraced Crypto Trading Firm Alameda Research Moves $93,353,985 in Ethereum-Based Altcoins Into Single Wallet

Disgraced Crypto Trading Firm Alameda Research Moves $93,353,985 in Ethereum-Based Altcoins Into Single Wallet


Sam Bankman-Fried’s failed crypto trading firm Alameda Research appears to be consolidating crypto assets into a single wallet.

The firm has steadily accumulated $93,353,985 worth of Ethereum-based altcoins into just one address in recent days, according to the on-chain analytics company Nansen.

The bulk of the altcoins are denominated in the US dollar-pegged stablecoin Tether (USDT), which amounts to 43% of the portfolio.

Trending: Fake News Media Complains about Elon Musk’s Twitter Crackdown on Illicit Sexual Content

The second-largest altcoin allocation is BitDAO (BIT). The decentralized autonomous organization (DAO), which is backed by Bybit, Pantera and billionaire Peter Thiel, represents a 29% chunk of the wallet in question.

The wallet also includes several additional assets in smaller amounts, including Ethereum (ETH) itself, which is 3% of the wallet.

Source: Nansen

Analysts at Nansen say the coins are likely being consolidated

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend