US Government Transfers $33M in ETH, BUSD, and SHIB, Seized From FTX
The post US Government Transfers $33M in ETH, BUSD, and SHIB, Seized From FTX appeared on BitcoinEthereumNews.com.
On December 3, the U.S. government moved $33.6 million worth of cryptocurrency seized during the collapse of FTX and Alameda Research to two unidentified addresses. The transfers involving tokens such as Ethereum (ETH), Binance USD (BUSD), Wrapped Bitcoin (WBTC), and Shiba Inu (SHIB) stirred curiosity across the digital asset sector. Details of the Transfers According to data from blockchain analytics firm Arkham Intelligence, the transactions included two significant transfers of 5,024 ETH and 3,739 ETH, valued at $18 million combined. The funds were sent to unknown addresses beginning with “0x9cd” and “0x9ac.” The wallet labeled by Arkham as “FTX Alameda Seized Funds” also moved $13 million in BUSD and $1.5 million in SHIB. Other cryptocurrencies were also involved in the transactions, including $36,070 worth of Axie Infinity (AXS), $106,430 in Compound (COMP), Numeraire (NMR) valued at $93,950, WBTC worth $50,710, and $47,350 in Yearn Finance’s YFI. The transfers coincided with a broader market rally, with nearly all of the tokens included in the transactions experiencing significant upticks over the last seven days. ETH is currently trading at $3,726, almost 28% lower than its all-time high but 9% up on its level from a week ago, and an increase of more than 50% compared to its value a month ago. On-chain Ethereum volume also hit a year-to-date high of $183.74 billion in November, with analysts attributing the surge to market participants reallocating capital from centralized exchanges to decentralized on-chain activities. More Government Crypto Activity This latest transfer follows another major movement of digital assets by the U.S. government. On Monday, a wallet labeled “U.S. Government: Silk Road DOJ Confiscated Funds” moved nearly $2 billion worth of Bitcoin (BTC) to Coinbase Prime. The platform has emerged as the government’s go-to service for cryptocurrency liquidations, especially with the stash seized from the darknet…
Filed under: News - @ December 4, 2024 10:26 pm