Shocking: After OKX gives Alameda County $8.3 million in cryptocurrency, the county declares bankruptcy
Key Points:
- Over the course of seven days, OKX sends bankrupt Alameda Research $8.3 million in crypto assets in multiple transactions.
- Alameda transfers funds to Coinbase, sending USDT worth $10 million in 24 hours and depositing $31.2 million to the U.S.-based exchange in the past week, with the top transfers totaling $4.8 million.
OKX has sent $8.3 million worth of cryptocurrency assets to Alameda Research in the past seven days through multiple transactions.
On May 23, the exchange sent Alameda a series of test transactions totaling $10 each involving all of these assets. The goal of these transactions was to get the OKX platform’s frozen funds back to FTX and Alameda. After FTX went bust in November 2022, OKX took $157 million in cryptocurrency assets in March. The most recent exchanges proceed with OKX’s endeavors to return these assets to their actual owners.
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Alameda Research is currently transferring its remaining funds to Coinbase. In the previous week, the bankrupt firm has moved $10 million worth of USDT from its cool wallets to Coinbase Prime and saved $31.2 million to the U.S.- based trade. Alameda has transferred more than $250 million to Coinbase in the last month, Arkham Intelligence claims.
The digital assets in Alameda’s wallet total approximately $314.7 million. Its biggest holding is $56.4 million worth of USDT, trailed by 100 million BitDAO (Spot) tokens esteemed at $51.4 million.
Its other top holdings include 19.292 Ethereum (ETH) worth $36.6 million, $12.35 million USDC, 40.45 million Stargate tokens worth $28.82 million, and 16.39 million Polygon tokens worth $14.74 million. The wallet contains DAI, MASK, Lido (LDO), FTX Token (FTT), Serum (SRM), and a variety of other altcoins.
