- EmberCN has spotted an ongoing development with FTX and Alameda Research.
- FTX and Alameda sold nearly all 25 million WLD tokens in their portfolio.
- The exchange made WLD transfers to BitGo, one of its distribution partners.
Blockchain analysis platform EmberCN has spotted an ongoing development with FTX and Alameda Research that should interest the bankrupt cryptocurrency exchange customers. In a recent post on X, the analysis platform highlighted significant WLD token transfers by the crypto exchange, suggesting an ongoing selloff.
According to the analysis firm, FTX, in partnership with Alameda Research, has sold nearly all the 25 million WLD tokens it has in its portfolio. Citing on-chain data, the firm revealed how the exchange transferred 21.856 million WLD tokens, equivalent to $58.77 million, to five BitGo custodial wallets.
The analysis firm noted that FTX made the transfers within the past few weeks. The analysts suspected the defunct crypto exchange sent the tokens to large investors or institutions via Over The Counter (OTC) transactions.
Extending further, EmberCN highlighted how FTX and Alameda Research transferred 2.809 million WLD tokens to the Binance cryptocurrency exchange at a frequency of one transaction per week since August. FTX now has only 334,000 WLD tokens worth about $800,000 left.
WLD Transfers and FTX Repayments
Although the blockchain analysis platform did not explain FTX’s intention behind the WLD transfers, the exchange’s website says BitGo is one of its distribution partners. Therefore, customers awaiting refunds hope the transactions will help them recover their funds.
Read also: FTX to Return $16 Billion to Users: Payouts to Start in March 2025
FTX’s repayment plan received approval last October in the U.S., and the exchange plans to distribute up to $16.5 billion to affected customers. The settlement will end the issue that started in November 2022 after the crypto exchange declared bankruptcy, leaving millions of customers worldwide locked out of their exchange accounts.
On the repayment approval, FTX’s FTX’s current CEO, John Ray, noted the exchange’s commitment to returning 100% of bankruptcy claim amounts plus interest for non-governmental creditors. He also said FTX customers awaiting repayment live in over 200 jurisdictions worldwide.
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