WLD Token Transfers By Bankrupt FTX/Alameda Research Spotted By EmberCN Analysis Platform

Blockchain analysis platform EmberCN has spotted an ongoing development with FTX and Alameda Research that should interest the bankrupt cryptocurrency exchange customers.

Bankrupt cryptocurrency exchange FTX, in partnership with Alameda Research, has nearly sold out the 25 million WLD tokens it had in its portfolio, according to blockchain analysis platform EmberCN.

Highlighting the development on Friday, the analysis firm noted that, based on on-chain data, FTX, in partnership with Alameda, sold nearly all the WLD tokens it had in its portfolio.

Citing blockchain data, the firm noted how the crypto exchange made the transfers 21.856 million WLD tokens, an amount valued at $58.77 million at the time of the transaction, from its addresses to five BitGo custodial wallets within the past few weeks.

Suspecting the defunct crypto exchange sent the tokens to large investors or institutions, the analysis firm noted that the transactions were likely made over the counter (OTC).

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 remaining, an amount valued at about $800,000, according to the analysis firm.

While the blockchain analysis platform did not comment on FTX’s intention behind the WLD transfers, the exchange’s website states that BitGo is one of its distribution partners.

Hence, customers awaiting refunds from the crypto exchange may be hoping that the transactions will lead to them recovering their funds.

FTX’s repayment plan, which was designed to return up to $16.5 billion to affected customers, received approval in the U.S. last October.

The settlement will put an end to the issue that started in November 2022 after the crypto exchange declared bankruptcy, leaving millions of customers locked out of their exchange accounts worldwide.

On the repayment approval, 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 that FTX customers awaiting repayment live in over 200 jurisdictions worldwide.

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