FTX and Alameda moved more than $8 million in assets

Crypto wallets linked to now-defunct exchange FTX and its partner, Alameda Research, have moved over $8 million in digital assets in the past 24 hours amid a broad crypto market larger spike.

According to blockchain analytics firm SpotOnChain, these entities transferred 2,000 Ethereum, worth approximately $6.36 million, to Coinbase and 163,727 PROM tokens, worth approximately $2.04 million, to Binance early this morning, February 27 .

Yesterday, Bitcoin rose to over $57,000 for the first time since November 2021. However, its price fell slightly to $56,958 at the time of writing.

The rise in BTC also propelled other major cryptocurrencies such as Ethereum, Solana, Cardano and others to post significant gains during the reporting period.

Some analysts speculate that these transactions may represent an attempt by the struggling company to profit from the rising prices of these tokens.

Notably, SpotOnChain reported that FTX and Alameda transferred 10,447 ETH, worth $27.6 million, to centralized exchanges last month, coinciding with a 42% increase in ETH value.

The companies still own approximately $901 million in digital assets despite these transfers.

According to SpotOnChain data, FTX holds $530 million across 18 addresses, while Alameda holds assets worth $371.39 million.

FTX sells assets

This development comes as FTX actively divests various assets, including cryptocurrency holdings and stocks in multiple companies, as part of restructuring efforts.