FTX and Alameda recently transferred significant amounts of digital assets including ETH, ALPHA, POWR, and others to exchanges such as Binance, Coinbase, and FalconX. This move involved a total of $3.2 million worth of assets and is part of a larger offloading effort amid the crypto market's volatility, with $15.1 million worth of 21 digital assets moved over the past week. These actions come in the wake of legal challenges faced by FTX and its founder, Sam Bankman-Fried, including a lawsuit aimed at recovering funds allegedly transferred illegitimately. Additionally, the article mentions Ripple's legal situation and MicroStrategy's upcoming reveal of its Bitcoin strategy.

HBTC

DODO

NEXO

FRONT

ALPHA

REEF

ALCX

LOOKS

LINA

DENT

POWR

In a thrilling twist of events, FTX, a fallen crypto exchange, and its backstop liquidity provider Alameda, recently shifted staggering amounts of 8 digital assets to CEXs Coinbase, Binance, and FalconX. As per insights offered by SpotOnChain, these assets encompassed $3.2 million worth of ETH, ALPHA, POWR, SNT, OXT, RLC, NMR, and NEXO.    Among these assets, 1K ETH was shifted to Coinbase, whereas 4.43 million ALPHA was shifted to Binance. Meanwhile, POWR, SNT, OXT, RLC, NMR, and NEXO were moved to Coinbase and FalconX, garnering noteworthy attention among prominent crypto investors and traders.  FTX &amp; Alameda’s Offloading Continues  Intriguingly, amid the recent heightened volatility witnessed across the broader crypto market, Sam Bankman-Fried’s FTX appears to have continued to move tokens to CEXs. As per blockchain data, the two entities offloaded a staggering $15.1 million worth of 21 digital assets over the past week. Among these assets, apart from the eight mentioned above, TLM, DENT, LOOKS, DODO, FRONT, LINA, REEF, HBTC, SD, GFI, ALCX, and FTM were transferred in colossal amounts to Binance, Coinbase, FaclonX, and Wincent. Notably, the two entities also incinerated TONCOIN worth $1.03 million, birthing additional inferences.    Meanwhile, the asset transfers made by FTX and Alameda come as a result of Sam Bankman and his exchange’s noteworthy fall, resulting in a legal ruling faced by the parties to repay its creditors. Following this, FTX and Alameda’s transfer of assets to CEXs emerged as a recurring phenomenon within the crypto realm.    Also Read: Ripple Dumps 120 Mln XRP After SEC Gains Upper Hand In Legal Quandary  Sam Bankman Fried’s Recent Legal Chronicle  In a gust of significant breakthroughs witnessed in Sam-Bankman Fried’s legal saga in recent days, the fallen entrepreneur’s parents, Joseph Bankman and Barbara Fried, appealed to the court to dismiss a lawsuit orbiting the fallen crypto exchange’s intentions to recover funds it alleges were transferred illegitimately. Concerning this, FTX previously sought to recover millions of dollars from Sam’s parents.    Also Read: MicroStrategy Earnings: Michael Saylor Hints At Revealing MSTR’s Bitcoin Strategy

FTX and Alameda Transfer $18.3 Million in Digital Assets Amid Legal Challenges