71 million XRP transferred by whales to FTX in a wave of exchange transfers

According to the crypto data tracker WhaleAlertMore than 71 million XRP have flowed into the FTX in the last few hours. The move was made in two transactions: the first was 35,774,039 XRP worth $16,631,186, and the second was 35,615,409 XRP worth $16,557,439; both were transferred from unknown portfolios to the FTX exchange.

🚨 35,615,409 #XRP (16,557,439 USD) transferred from unknown wallet to #FTXhttps://t.co/NrlM2dfW0g

– Whale Alert (@whale_alert) November 7, 2022

The FTX exchange is experiencing a surge in transfers in the wake of Binance’s decision to liquidate its holdings in FTT and the controversy surrounding Alameda’s balance sheet.

According to Nansen data, 26,600 ETH were transferred from Alameda to FTX in the past day. Similarly, a large amount of stablecoins from wallets on Huobi, OKX, Kucoin and other exchanges were transferred to and from the FTX exchange.

Cybersecurity intelligence firm PeckShield reports that, the day before, Jump Trading withdrew approximately $40.4 million in USDC from FTX. A total of $109.8 million in crypto-currencies, including 56,432 ETH and about $13.9 million in stablecoins, were transferred from FTX to crypto-currency lending platform Nexo.

Changpeng “CZ” Zhao, CEO of Binance, announced on Sunday that his crypto-currency exchange was liquidating its holdings in FTT, a rival exchange, the native asset of FTX.

Zhao made mention of “recent revelations that have come to light“, but he did not discuss it further in public and did not answer questions about it.

Etherscan reports that on Saturday, 22,999,999 FTTs, worth $584 million at the time – nearly 17 percent of the outstanding FTTs – were moved from a wallet to the Binance exchange. CZ acknowledged that the moved funds were part of the exchange’s decision to sell its FTT holdings.