• On December 29th, Alameda Research sold a large portion of its crypto assets, worth $1.7 million.
• The assets were Ethereum-based tokens, such as USDC, DAI, CRV, CVX, ETH and more.
• The funds were converted into BTC from USDT via token-swap service platforms like FixedFloat or ChangeNow.
Alameda Research, a crypto trading firm founded by Sam Bankman-Fried, was recently forced to file for bankruptcy proceedings along with the FTX exchange in mid-November. On-chain data shows that on December 29th, Alameda Research liquidated a large portion of its crypto assets worth $1.7 million. These assets consisted of Ethereum-based tokens, such as USDC, DAI, CRV, CVX, ETH and more.
The funds were exchanged for Tether’s USDT stablecoins, and then swapped for BTC via token-swap service platforms like FixedFloat or ChangeNow. The value of these assets ranged from a fraction of ETH to more than 15 ETH. Arkham Intelligence revealed that Alameda Research still holds sizable crypto assets comprising various tokens worth more than $112 million.
The bankruptcy filing and the subsequent liquidation of assets has caused a stir in the crypto community, as many are concerned that this could have a negative impact on the market. It remains to be seen how the market will react to this news in the coming days and weeks. For now, it appears that Alameda Research is still managing its assets, albeit in drastically reduced amounts.