Alameda Research Moves 3000 Bitcoin Amid FTX Disaster

The wallets of Alameda Research, a trading company for bitcoin (BTC) and cryptocurrency exchange FTX, showed strong withdrawals on Wednesday, in the midst of a crisis triggered by the intent to buy (already rejected) Binance, one of its main competitors.

just us mentioned Blockchain analytics firm PeckShield, Alameda Research pulled 3000 wrapped BTC (wBTC) three hours ago, a 1:1 par with the first cryptocurrency. This equates to about 50 million US dollars.

According to PeckShield, many withdrawals were made through the Aave lending protocol, From where movements were reported since the early hours of Wednesday November 9, as described by Etherscan.

Alameda Research’s withdrawal of the funds comes after its website, as well as social networks, was disrupted, with most posts removed. The FTX website has also disappeared.

Alameda’s move stems from the decision of Binance, the largest exchange by trading volume, to abandon the acquisition of FTX. This was an exchange company that came in the top three in the market, with volumes exceeding 4 billion US dollars, according to data from CoinMarketCap.

As reported by CriptoNoticias, Binance opposed continued trading due to the “mismanagement of funds” maintained by FTX. In this way, Chanpeng Zhao’s company He ruled out plans expressed on Tuesday when a takeover deal was launched.

After learning about Binance’s decision and the actual disappearance of Alameda research, Bitcoin price started to drop sharplywhich carries with it the rest of the market.

To conclude this article, the highest cryptocurrency is trading above $15,800, according to CoinMarketCap, An apartment we haven’t seen in more than two yearsThis has put many emerging market investors on alert.

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