Wallets linked to the FTX bankruptcy estate and Alameda Research sent as much as 27,373 ether, worth about $75 million, to crypto market maker Wintermute, two onchain analysts say. Neither a sale of the ether nor the purpose of the transfer has been confirmed.
Wallets labeled as belonging to the FTX bankruptcy estate and Alameda Research transferred as much as 27,373 ether, worth about $75 million, to crypto market maker Wintermute, according to two onchain analysts.
Two trackers, two counts
PeckShieldAlert flagged a transfer of 23,639 ether, worth roughly $65 million, from an Alameda Research and FTX bankruptcy estate-labeled address to a Wintermute wallet early Wednesday. Separately, EmberCN said six wallets transferred a combined 27,372 ether to Wintermute in a post on X, tracing the movements to a wallet on the Arkham intelligence platform.
The gap between the two counts suggests PeckShield's alert captured only the largest single transaction, while EmberCN counted several transfers. The largest portion sent 23,639 ether to an address labeled "Wintermute" on Etherscan.
No confirmation of a sale
A transfer to a market maker or over-the-counter platform can signal that a holder intends to sell or hedge a large position without sending it directly to an exchange. However, the onchain data does not establish that Wintermute has sold the ether or that the transfer was made to fund creditor repayments.
Wintermute did not immediately respond to a CoinDesk request for comment, and the FTX Recovery Trust has not made any public statement about the transfers.
FTX and Alameda wallets have previously moved digital assets to exchanges during the estate's multiyear wind-down. The latest transfer follows the trust's ongoing creditor-distribution program: in March, FTX planned a $2.2 billion payout, its fourth distribution under the Chapter 11 plan. A transfer to Wintermute does not necessarily mean the ether will appear on public exchange order books soon — the market maker could hold the assets as inventory, hedge its exposure, or execute a sale over time.
Source: CoinDesk
Trading involves risk.
Risk Disclaimer
