Alameda-Linked Wallet Sent $100M of Stablecoins to Trading Firms After USDC Depeg

Three other wallets previously linked to bankrupt crypto exchange FTX and Alameda, a trading firm affiliated with FTX that also filed for Chapter 11 bankruptcy, sent $188.6 million to crypto exchanges Coinbase (COIN), Kraken and Binance on Tuesday, according to blockchain sleuth Lookonchain. It remains unclear whether capital is being consolidated in line with bankruptcy proceedings or if it is being deployed to generate a yield.