Whales Move 71 Million XRP To FTX In Wave Of Exchange Transfers

Over 71 million XRP have recently flown to the FTX market, according to cryptocurrency data tracker WhaleAlert. The transfer took place across two separate transactions.

The first of which involved the transfer of 35,774,039 XRP worth $16,631,186. The second of which involved the transfer of 35,615,409 XRP worth $16,557,439 from unidentified wallets to the FTX exchange.

Due to the debate regarding Alameda’s balance sheet and Binance’s decision to sell its FTT assets, the FTX market is now experiencing a surge in transfers.

Data from Nansen shows that over the past day, 26,600 ETH were transferred from Alameda to the exchange. The exchange has also seen a significant number of stablecoins migrate toward and away from wallets on Huobi, OKX, Kucoin, and other exchanges.

Moreover, per cyber security intelligence firm PeckShield, Jump Trading withdrew almost 40.4 million USDC from the exchange the day before. Additionally, about $13.9 million (56,432 ETH) in stablecoins, totaling $109.8 million, moves from it to the crypto lending platform Nexo.

The chief executive officer of Binance, Changpeng “CZ” Zhao, declared on Sunday that his cryptocurrency exchange is selling its interests in FTT, the native asset of a rival exchange, FTX.

In addition, he mentioned, “new revelations that have come to light.” But he didn’t speak further about them publicly or respond to inquiries.

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According to Etherscan, 22,999,999 FTT, was transferred from a wallet to the Binance exchange on Saturday. Its current value is $584 million or over 17% of the total FTT in circulation. CZ confirmed that the exchange’s decision to sell its assets in FTT included consideration of the relocated money.

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