Cold Wallet of FTX Transacts Crypto Worth More Than $10 Million to Ethereum

Colin Wu, a well-known journalist in China, has reported a new development. As per Wu, a particular Solana address called an FTX cold wallet is involved in transacting funds. He disclosed this on X. Wu added that the address transacted crypto coins such as YFI, LUNA, SUSHI, and LINK to the wallet of Ethereum. Wu also mentioned that the respective transfer is carried out via blockchain bridges like Wormhole.

Cold Wallet of FTX Reportedly Transfers Above $10 Million Worth of Crypto to Ethereum

Wu mentioned that the transaction started on the 31st of August and is still ongoing. Up till now, he added, a worth of up to $10M has been transacted. While commenting on this development, Wu asserted that the respective transaction appears to be an operation dealing with wallet collection. Arkham, a crypto intelligence firm, has also provided data in this respect.

The respective statistics indicate that there are crypto assets of above $675M worth in the portfolio of FTX. FTT, the native token of the crypto exchange, still accounts for the highest crypto holdings of the crypto exchange. The company holds FTT tokens of nearly $259.65M worth.

Bitcoin Secures 2nd Spot among the FTX Crypto Holdings

Bitcoin is the token that is the 2nd-highest crypto token at FTX in terms of holdings. Bitcoin tokens in the storage of FTX account for a worth of nearly $100.57M. ETH holdings of FTX reportedly account for almost $17.30M on the dashboard Arkham.

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In this respect, the token secures the 7th spot in the list of prominent assets that FTX holds. The bankrupt crypto exchange has carried out many moves in pursuit of a revival since it witnessed an abrupt collapse. As a result of the respective crash, numerous consumers of FTX lost huge amounts of funds.