Alameda Research moves 3,000 bitcoins in wake of FTX failure

The portfolios of Alameda Research, a bitcoin (BTC) trading company and the FTX cryptocurrency exchange, showed strong withdrawal movements Wednesday amid the crisis triggered in the wake of the (already disavowed) purchase intention of Binance, one of its main competitors.

As the reported PeckShield blockchain analytics firm, Alameda Research, three hours ago withdrew 3,000 Wrapped BTC (wBTC), which has a 1:1 parity with the first cryptocurrency. This is an equivalent of about 50 million U.S. dollars.

According to PeckShield, many of the withdrawals were made through the Aave loan protocol, where movements have been reported since the early morning hours of Wednesday. Nov. 9, as shown by Etherscan.

The withdrawal of funds from Alameda Research occurs after its website has been deactivated, as well as his social networks, where most of the posts have been deleted. The website of FTX he also disappeared.

Alameda’s move comes after Binance, the largest exchange by trading volume, decided to pull out of its acquisition of FTX. It is an exchange that once ranked among the top 3 in the market, with volumes exceeding $4 billion, according to data from CoinMarketCap.

As reported by CryptoNews, Binance objected to continue operating because of the “mismanagement of funds” that FTX maintained. In this way, Chanpeng Zhao’s company. abandoned plans expressed yesterday when a takeover deal had been initiated.

Following the news of Binance’s decision and the virtual demise of Alameda Research, the price of bitcoin began a precipitous declinedragging the rest of the market with it.

At the time of going to press, the first cryptocurrency was trading above $15,800.according to CoinMarketCap, An apartment not seen for more than two yearsand sent many emerging market investors into a tailspin.