Alameda Research Transacted Over $50M Since Date of Bankruptcy, With $11M Deposited To Binance. Transactions Still Ongoing

I'm no legal expert but I don't think this is how it is supposed to work. Alameda filed for bankruptcy on 11th November. This means that all they preparations and paperwork must have been in order before the actual date of filing. However, since the 11th to date, Alameda wallets have transacted over $50M. This was mainly in FTT, USDT and smaller amounts in BitDAO as well as even smaller values across various tokens. And as the last transaction occurred yesterday morning it very much looks like an ongoing operation.

​

Latest transaction

​

Earlier transactions

We also see the some of these funds being deposited to Binance. They are being sent to the 0x3507… wallet as an intermediary before they are sent to Binance.

​

500k FTT to Binance

So far, around $56.7M has been transacted and FTT tokens worth $11M at the time deposited onto Binance. Again, I'm not sure how bankruptcy and assets disclosure, seizure and management is exactly supposed to work but I don't think it's supposed to look like this.

Many transactions occurred in USDC and FTT and smaller amounts in various tokens.

​

USDC to 0x235…

​

0x235… to Binance

FTT transactions

With all the news, rumours and unsubstantiated facts going around these days I want to be clear and fair. Best case, funds are owed to Alameda and coming from a counterparty where from where they are being stored on Binance. But given SBF/CZ relations, this is hard to believe. Plus, it looks like Alameda is actively shifting funds out of other exchanges as well as self-custody and into Binance, evidenced by these of transactions of 500k of FTT and 282M SPELL that show funds being drained from other exchanges of Bitfinex and Arbitrum and into Binance. And why not just keep the funds in self-custody?

​

500k FTT to Binance[repeated for easier reading]

​

282M SPELL from L1 to Alameda

282M SPELL from Alameda to Binance

This 500k FTT transaction to Binance on 11th Nov also appear to be wholly separate from the over 100M FTT tokens that were basically drained and stolen from the FTX deployer that took place 2 to 3 days later on the 13th Nov, which Binance and Huobi blocked deposits of. Of course, it goes without saying the fact that Alameda was still playing with their ponzi/pyramid/scam FTT tokens at the time of bankruptcy is pathetic up to as late as yesterday.

In the worst case scenario however, well given what we now know about SBF, these transactions are only revelations about how badly rotten the whole situation is, as if it were even possible to worsen more than we already knew. I could speculate, but my imagination wouldn't even be able to do justice.