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  • Writer's pictureJamal Saafir

FTX Cold Wallet Moves Large Holding Of Solana and Ethereum To Exchanges

According to a report from CoinDesk, the debtor group controlling wallets linked to the cold storage of collapsed cryptocurrency exchange FTX sent more than $19 million worth of tokens to crypto exchange addresses on Thursday, blockchain data reveals.

On-chain analytics firm Peckshield said 470,000 Solana tokens (SOL), worth roughly $15 million at present valuation, were sent to different wallets. “Some of these funds have been sent to CEXs like Binance,” the firm added. CEXs mean centralized exchanges.

An Ethereum-based FTX-linked wallet sent $2.5 million worth of different tokens, including 11,000 Compound (COMP), to a Binance exchange address. Another transferred 1,395 Ethereum (ETH), worth $2.5 million, to a Coinbase address, Peckshield said.

On-chain analytics firm CryptoQuant confirmed the wallet labels with CoinDesk by way of Telegram.

The debtor group in control of the FTX wallets has conducted several transactions in recent weeks. On Wednesday, an $8 million portion of tokens was transferred to Binance through several transactions.

Earlier in October it was revealed that the group staked over $122 million worth of Solana and $30 million worth of Ethereum, a position on which it has the potential to earn at least $9 million worth of rewards annually.

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