2024

Read

Billion

Coin

<ul class="news-points wp-block-list">
 <li>FTX liquidators transfer 11.4K SOL (~$2.66M) to Binance in an asset recovery move.&nbsp;&nbsp;</li>
 <li>The transaction aligns with liquidation efforts post-FTX collapse, flagged by PeckShield.&nbsp;&nbsp;</li>
 <li>SOL market dynamics under watch following high-profile fund movement.&nbsp;&nbsp;</li>
</ul>
An FTX liquidator wallet sent nearly 11.4K SOL tokens, worth $2.66 million, to Binance. Blockchain security firm PeckShield highlighted the transfer, which is part of FTX’s ongoing liquidation process to compensate creditors.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#PeckShieldAlert</a> <a href="https://twitter.com/hashtag/FTX?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#FTX</a> Liquidator Main Wallet – labeled address has transferred ~11.4K <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SOL</a> (worth ~$2.66m) to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Binance</a> <a href="https://t.co/FBMOFAwyKh" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/FBMOFAwyKh</a>— PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1861698791306670464?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 27, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
The FTX address has actively managed the exchange’s remaining assets. This labeled wallet activity demonstrates transparency in fund movement as the exchange works to recover assets.
PeckShield flagged the transaction, which reflects the exchange’s strategy to recover and redistribute funds after its collapse. FTX’s liquidators likely moved assets into Binance to capitalize on liquidity opportunities or prepare for asset reallocation.
Read also : <a href="https://coinedition.com/ftx-to-return-16-billion-to-users-payouts-to-start-in-march-2025/" rel="noopener noreferrer nofollow">FTX to Return $16 Billion to…</a>
The post <a href="https://coinedition.com/whats-behind-ftxs-2-66m-sol-transfer-to-binance-creditors-await-answers/" rel="noopener noreferrer nofollow">What’s Behind FTX’s $2.66M SOL Transfer to Binance? Creditors Await Answers</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

What’s Behind FTX’s $2.66M SOL Transfer to Binance? Creditors Await Answers

Coin Edition

Other articles published on Nov 27, 2024

Artfi Revshare Program: Innovating the On-Chain Revenue Share Economy

18 U.S. States Sue SEC Over Alleged Overreach in Crypto Regulation

MicroStrategy stock, $MSTR, just fell a massive -35% from its peak on November 21st

A U.S. court nullifies Tornado Cash sanctions

NFTs hit $158M weekly sales, Sky Mavis lays off 21% of workforce: Nifty Newsletter

Whale Activity Sparks Bullish Momentum for Dogecoin: $0.43 in Sight?

Join our free newsletter for daily crypto updates!