FTX and Alameda Research recently transferred $27.2 million in assets to Coinbase, including $17.93 million in RNDR, $4.7 million in SOL, $2 million in ETH and $1.18 million in MKR.
In addition, REN crypto assets worth $1.12 million and GRT worth $270,000 were also transferred to Coinbase.
In total, FTX and Alameda have transferred $106 million in cryptocurrency assets so far, according to CoinGape.
The assets of these companies remain substantial. According to Spot On Chain, FTX and Alameda maintain $736 million worth of EVM (Ethereum Virtual Machine) assets, even after significant recent transfers to various exchanges.
At the time, a series of transactions were noticed from various wallets associated with FTX and Alameda. These transfers began on October 25th, with transactions registered from the following addresses: 0xde9, FTX 0x97f, and Alameda 0xf02. The cryptocurrency was directed to centralized exchanges Binance and Coinbase.
In early October, FTX and Alameda sent 22k COMP worth $1.01 million and 974,270 RNDR worth $2.04 million to a Binance address via Wintermute, a global algorithmic digital asset trading platform. The companies then transferred an additional $6.5 million worth of assets in UNI, DYDY, SUSHI, and LDO to two intermediate addresses for immediate delivery to exchanges.
The FTX and Alameda crypto asset transfer operations are aimed at trying to win back clients as part of a strategy to pay off outstanding debts to creditors.
Alameda secretly used FTX user funds in 2022 to pay its outstanding loans to avoid suspicion of insolvency. By November 2022, Alameda's debt had grown to a significant $10 billion as a result of its scheme to recover loan funds from FTX client assets.
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