• Bitfinex transferred $8.5M worth of cryptocurrencies to Alameda Research’s consolidation wallet.
• The transfer raised questions about the relationship between the two firms.
• Alameda has been trying to recoup funds since its parent company, FTX, filed for bankruptcy in November 2022.
Crypto Exchange Bitfinex Transfers Funds to Alameda Consolidation Address
Crypto exchange Bitfinex recently transferred approximately $8.5 million worth of crypto assets from their wallet to Alameda Research’s consolidation address, which includes 6 million USDT and 1,545 ether (ETH). This transaction has raised questions about the relationship between both firms and has caused speculation within the industry.
Background on Bitfinex and Alameda Research
Bitfinex is a leading crypto exchange that offers both spot trading and margin trading services for over 120 digital asset pairs. It is also one of the most active exchanges in terms of daily trading volume. On the other hand, Alameda Research is an algorithmic trading firm with extensive experience in quantitative trading strategies and deep learning technologies. Its parent company FTX filed for bankruptcy in November 2022, leaving it in need of funds to be reclamation efforts have been underway since then.
PeckShield’s Disclosure
Blockchain security firm PeckShield has disclosed a series of transfers from three addresses, including one from crypto exchange Bitfinex to Alameda Research’s consolidation wallet. According to Etherscan, the address labeled „Alameda Consolidation“ received $13 million worth of crypto assets from three different wallets; one belonging to Bitfinex as previously mentioned and two unidentified wallets that each transferred roughly $6 million worth of USDC tokens respectively.
Conclusion: Questions Raised About Relationship Between Firms
The transfers from Bitfinex to Alameda’s consolidation address have raised questions about the relationship between both firms as well as speculations concerning their intentions behind such a move. It remains unclear why exactly this transfer was made but nonetheless it provides an interesting insight into how these two powerhouses are connected within the blockchain industry.
Reclamation Efforts by Alamedia
In addition, it should be noted that due to its parent company FTX filing for bankruptcy last year, Alamedia has been attempting reclamation efforts ever since then which could potentially explain why there was such a large transfer of funds from Bitfiinex ‘s wallet into its own consolidated one . Last week ,the trading company sued Voyager Digital in attempt to reclaim some lost money .