Bankrupt Company FTX May Have Sold a Lot of This Altcoin According to Onchain Data

A crypto wallet linked to the defunct company Alameda Research transferred 3.36 million FTT tokens worth $11 million to Binance, according to crypto onchain data

The Binance address in question is reportedly linked to a wallet belonging to a company called Mirana Ventures. Looking at historical onchain data, it appears that Alameda Research previously sent these FTT tokens to the Mantle Treasure wallet 3 years ago, and then moved them to FTX’s multisig wallets about a year ago.

Interestingly, FTT, the cryptocurrency of bankrupt company FTX, has gained more than 50% in value in the last month.

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However, FTX is currently going through a bankruptcy process and the value of FTT could be liquidated by the company and experience significant volatility. Therefore, it is worth being careful. The token's price rose to an all-time high of $85 3 years ago. It is currently trading 96% lower than that level.

*This is not investment advice.

Continue Reading: Bankrupt Company FTX May Have Sold a Lot of This Altcoin According to Onchain Data