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The amount mobilized includes 5,024 ether and 13.5 million BUSD.
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The transfers came amid the Altcoin rally.
Around $33.6 million in cryptocurrencies moved from US government wallets on November 3. These are addresses where part of the funds confiscated after the collapse, in 2021, of the FTX Cryptocurrency exchange and the Alameda trading firm are housed.
According to the data from the analysis firm Arkham, the funds were moved to two unidentified addresses.
Specifically, the wallet sent the first batch of 4,815 ether (ETH), worth more than 17 million dollars, to an address that begins with “0x9AcA”, followed by the second batch of more than 209 ETH to another that begins “0x9cdB8”. In total it was 5,024 etherscurrently valued at about $18 million.
The US government account also made multiple transactions that included transfers of $13.05 million of BUSD and $1.55 million of SHIB.
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The movements of government wallets, labeled by Arkham as “Funds confiscated from FTX Alameda,” included transactions with a variety of other tokensincluding AERGO, POWR, AXS, YFI, WBTC, NMR, COMP, SRM and RLC.
Until now, the reasons for the recent activities of these wallets are completely unknown.
There is a possibility that the transfers are for compensate persons or entities who suffered financial losses, due to fraudulent activities related to entities founded by Sam Bankman-Fried.
Although the movements could also be part of the authorities’ strategy to manage seized assets. This, taking into account that last Monday Bitcoin/” target=”_blank” rel=”noreferrer noopener”>transferred to the Coinbase Prime wallet about 10,000 bitcoins equivalent to 963 million dollars.
As CriptoNoticias reported, these transactions are causing concern in the community, as it is feared that Joe Biden’s government sell the crypto assets you have in your hands (product of confiscations) before handing over power to Donald Trump next January.
An action that, for many, would be part of a plan to “hinder the president-elect’s plans to create a strategic reserve of bitcoin.”
In that sense, it is striking that the transfers are carried out in the middle of the altcoin rally experienced by the marketin what is considered to be the biggest altseason in history.
This is a context where veteran projects such as Ripple’s XRP, Stellar (XLM), Hedera (HBAR) and Algorand (ALGO) are leading the resurgence of non-bitcoin cryptocurrencies.
Hence the movements of the United States have generated surprise. As many followers of the Arkham account comment, it was not known that the United States I was handling so many altcoins and now their fears indicate that the government try to manipulate the market.
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