The post U.S. Government Liquidates ANT Tokens for ETH Amid Ongoing Fallout from Alameda Research Collapse appeared on BitcoinEthereumNews.com.

In a significant development in the crypto landscape, former Alameda CEO Caroline Ellison has received a reduced sentence of just two years following her cooperation with federal authorities. This marks the first government activity involving assets seized from the floundering Alameda Research, with recent on-chain data revealing the sale of over 82,000 ANT tokens through AragonDAO’s redemption route. “Her testimony exposed the extent of Alameda’s risky financial practices,” stated a source familiar with the case, underscoring the ongoing repercussions within the crypto world. This article explores recent developments surrounding Alameda Research, including the government’s liquidation actions and Caroline Ellison’s sentencing, highlighting ongoing impacts in the crypto sector. Government Liquidation Signals New Chapter for Alameda Research Assets The U.S. government has recently engaged in a noteworthy liquidation of assets tied to the notorious Alameda Research, which is linked to the infamous FTX collapse. According to data from Arkham Research, the government wallet has sold approximately 82,000 ANT tokens, converting them into Ethereum (ETH). This transaction yielded around $1.07 million, subsequently leaving the wallet with an approximate balance of $974,000 across various cryptocurrencies. Context of the Asset Liquidation: AragonDAO’s Winding Down The liquidation of these ANT tokens coincides with AragonDAO’s decision to dissolve itself, which was made public in November 2023. As part of this process, the association provided a pathway for users to exchange their tokens until November 2, 2024. With over 82% of the outstanding ANT supply already redeemed, this strategic move aims to prepare the DAO for a smooth closure while also allowing the government to recoup lost funds from its holdings. Repercussions of the Alameda and FTX Collapse The fallout from the FTX and Alameda collapse continues to affect various stakeholders. Alameda, once a powerful player within the cryptocurrency ecosystem, is now facing the aftermath of its precarious…

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Filed under: News - @ October 31, 2024 2:28 pm