FTX and Alameda Research have transferred $8.6 million in cryptocurrency to a Binance address. The funds moved include 2.2 million Chainlink (LINK), 1 million Aave (AAVE), 2 million Maker (MKR), and 3.4 million Ether (ETH).
The funds’ movement was flagged by Nansen smart alerts, which allow you to get real-time updates on wallets. Nansen does not track off-chain movements, but the firm believes that the funds are likely being moved to Binance to be sold.
The funds were moved to 0xde9 and then to 0xaee, which is a known Binance wallet.
The reasons why FTX and Alameda might be selling these funds are unclear. It is also possible that the funds are being transferred to Binance for other reasons, such as to be traded on the Binance exchange or to be stored in Binance’s cold storage wallets.