Americký Senát jednomyslně přijal rezoluci, podle níž zakladatel FTX Sam Bankman-Fried nesmí dostat prezidentskou milost ani zmírnění trestu. Bankman-Fried byl v roce 2023 odsouzen za sedm bodů souvisejících s kolapsem FTX a ztrátou více než 8 miliard USD klientských prostředků.
The Senate unanimously approved a resolution declaring that FTX founder Sam Bankman-Fried should under no circumstances receive a presidential pardon or commutation.The bipartisan measure, led by Senators Cynthia Lummis of Wyoming and Ruben Gallego of Arizona, underscores lawmakers’ view of Bankman-Fried’s role in what prosecutors called one of the largest financial frauds in U.S. history.Bankman-Fried, convicted in 2023 on seven counts related to FTX’s collapse and the loss of more than $8 billion in customer funds, is not eligible for release until around 2044, and former President Donald Trump has said he has no plans to pardon him.The Senate agreed Wednesday that Sam Bankman-Fried should never receive clemency, passing a resolution that states the FTX founder should "under no circumstances" get a pardon or commutation.
It passed by unanimous consent, a procedure that clears as a measure if not a single senator objects to it.
Senators Cynthia Lummis, a Wyoming Republican, and Ruben Gallego, an Arizona Democrat, serve as the Senate Banking Committee's digital assets subcommittee's top Republican and Democrat, respectively.
Lummis is the crypto industry's most committed advocate in Congress and has spent years writing the legislation the industry wants. She has led the effort to keep one of its most infamous figures behind bars.
"He had his day in court," Lummis said when the pair introduced the measure on June 17. Gallego's statement ended with four words: "Keep him locked up."
Bankman-Fried is not eligible for release until around 2044. A jury convicted him in November 2023 on seven counts tied to the collapse of FTX, which prosecutors called one of the largest financial frauds in U.S. history, with American customers losing more than $8 billion.
President Donald Trump said in January he had no plans to pardon Bankman-Fried. He has cleared Binance founder Changpeng Zhao and Silk Road creator Ross Ulbricht, along with other white-collar offenders.
Bankman-Fried ran two companies at once. FTX was a crypto exchange, which holds customer money the way a broker does and is not supposed to touch it. Alameda Research was a trading firm he also owned. He moved billions of dollars in FTX customer deposits to Alameda, which spent the money on trades, venture investments, political donations, and Bahamian real estate, while FTX's software exempted Alameda from the rules that would have forced it to cover its losses like any other trader.
The facade was blown open after CoinDesk obtained Alameda's balance sheet in November 2022 and found that most of what the firm counted as assets was FTT – a token FTX had created itself and could issue at will.
The collateral propping up Alameda was, in effect, something its sister company had invented. Further cracks emerged after the prominent exchange Binance said, days later, it would sell its FTT holdings, leading to a rapid collapse in FTT prices.
Customers rushed to pull their deposits, and FTX could not return the money because it was no longer there. The exchange filed for bankruptcy on Nov. 11, 2022, just over a week after the story ran.
Americká vláda převedla asi 4 820 ETH v hodnotě 9,29 milionu USD na Coinbase Prime z peněženek spojených s pádem FTX a Alameda Research. Spolu s tím přesunula i SHIB, POWR a AERGO.
The US government just moved approximately $9.29 million worth of Ethereum to Coinbase Prime, sourced from wallets tied to the FTX and Alameda Research collapse. The transfer, flagged by blockchain analytics firm Arkham Intelligence, involved roughly 4,820 ETH and represents the latest chapter in Washington’s slow, methodical approach to offloading billions in seized crypto.
What actually moved, and what else came along for the ride The Ethereum wasn’t traveling alone. Alongside the 4,820 ETH, the government-controlled wallet also relocated around 5.489 billion SHIB tokens, 631.7 thousand POWR tokens, and 1.06 million AERGO tokens to new addresses during the same transaction window.
The assets originated from wallets seized following the spectacular implosion of FTX in late 2022, when Sam Bankman-Fried’s exchange and its sister trading firm Alameda Research collapsed, vaporizing billions in customer funds. Coinbase Prime, the institutional arm of the largest US-based crypto exchange, was selected by the US Marshals Service in 2024 to serve as the custodian for these forfeited digital assets.
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A pattern of controlled deposits This wasn’t a one-off event. The July 15 transfer follows a pattern that has been building throughout 2026. In May, approximately $1.9 million in altcoins from the same FTX/Alameda seizure pool were deposited to Coinbase Prime. Smaller transactions followed in June.
No sales or further movements from the July 15 deposit have been reported as of the latest available data. Moving tokens to Coinbase Prime doesn’t automatically mean they’re being sold. The platform offers custody services alongside trading capabilities, so the government could be repositioning assets for eventual over-the-counter transactions rather than dumping them into the open market order book.
For context, the US government’s total seized crypto portfolio exceeds $20 billion. A $9.29 million Ethereum deposit represents roughly 0.046% of that total.
The FTX aftermath continues to unwind The FTX collapse remains one of the most consequential events in crypto history. When the exchange imploded in November 2022, it triggered a cascade of failures across the industry and left creditors scrambling to recover funds. Bankman-Fried was subsequently convicted and sentenced, but the recovery process for affected users has been grinding forward through bankruptcy proceedings and government asset liquidation ever since.
The May, June, and now July transfers have been relatively modest in size, and there’s no evidence of immediate large-scale selling following any of these deposits. For Ethereum specifically, the 4,820 ETH moved in this transaction represents a tiny fraction of daily trading volume, which routinely exceeds billions of dollars.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bývalý CEO SafeMoon John Karony dostal v New Yorku trest 100 měsíců vězení za podvod. Sam Bankman-Fried mezitím podal návrh na nový proces v kauze FTX.
Two of the most prominent crypto fraud cases in the U.S. courts moved in different directions today, 10 February.
In one case, the former chief executive of SafeMoon received a prison sentence following conviction. In another, Sam Bankman-Fried, the former head of collapsed exchange FTX, filed a fresh bid seeking to reopen his case.
SafeMoon CEO sentenced after victim testimony A federal judge in New York sentenced John Karony, the former CEO of SafeMoon, to 100 months in prison, according to courtroom reporting by Inner City Press.
During the sentencing hearing, multiple victims described how they invested in SafeMoon after being reassured by Karony’s public statements and personal engagement with the community.
Several said the losses reshaped their financial futures, preventing home purchases and affecting education plans.
U.S. prosecutors sought a 12-year sentence, arguing Karony deliberately misled investors and showed no remorse. The defense cited his age and background to mitigate the punishment.
The judge rejected those arguments, describing the scheme as “a massive fraud” and stating it was “more like theft than fraud,” emphasizing that investors had been explicitly assured there would be no rug pull.
The sentence marks a final chapter in one of the most widely followed cases to reach U.S. courts.
SBF files long-shot motion for new trial In a separate development, Bankman-Fried filed a pro se motion seeking a new trial on his FTX fraud conviction, according to Bloomberg.
The filing, dated 5 February and docketed Tuesday in Manhattan federal court, argues that new witness testimony could undermine the government’s case.
The request is separate from Bankman-Fried’s formal appeal. It comes after a federal appeals court rejected his attempt to secure release while that appeal is pending.
The Second Circuit ruled in December that he had not demonstrated a substantial likelihood of success.
Bankman-Fried was convicted in November 2023 on seven counts of fraud and conspiracy and sentenced in March 2024 to 25 years in prison.
Prosecutors said he misappropriated billions of dollars in FTX customer funds to support risky trading at Alameda Research, political donations, and luxury real estate purchases.
Cases enter different phases Together, the two developments highlight how high-profile crypto prosecutions are diverging in 2026.
While the SafeMoon case has reached sentencing, delivering closure for victims, the FTX case continues to generate procedural filings as its former executive pursues post-conviction relief.
Final Thoughts The SafeMoon sentencing reflects courts moving toward final judgments in retail-focused crypto fraud cases. Bankman-Fried’s filing underscores how larger cases can remain active for years through appeals and post-conviction motions.
BitDAO podezírá Alameda Research z porušení dohody z roku 2021 a z prodeje 100 milionů BIT, které měly být drženy bez prodeje. Požádala ji o důkaz o držbě a Alameda následně přesunula více než 100 milionů BIT na svou adresu.
BitDAO (BIT)suspected FTX founder Sam Bankman Fried's venture capital firm Alameda Research of breaching an agreement made in 2021 and selling its 100 million BIT tokens, causing BIT to plummet.
The DAO community asked Alameda to prove that it still owns its BIT tokens, and Alameda responded by transferring over 100 million BIT tokens from an FTX hot wallet to an Alameda address.
BackgroundAlameda published a proposal titled BIP-4 and offered BitDAO to swap 100 million BIT tokens with Alameda for 3,362.315 FTT tokens and make a public commitment not to sell each others' tokens for three years. The proposal was open for voting between Oct. 20 and Oct. 30 2021 and passed with 100% votes of the participants in favor.
The token swaps took place on Nov. 2, 2021, in three transactions, and both parties agreed not to sell them before Nov. 2, 2024.
Coins plummetOn Nov. 8, both BIT and FTT experienced a sharp 20% decline at around the same time. BIT fell from $0.40 to $0.33, while FTT plummeted from $22.12 to $15.36. Both tokens quickly recovered from a portion of their losses. At the time of writing, BIT is being traded for $0.39, while FTT is priced at $18.184.
BITUSDFTTUSDIn light of recent speculation about FTX's financial stability, the BitDAO community suspected that Alameda may have sold its BIT holdings and caused the sudden dump of both FTT and BIT.
BitDAO's founder and CEO Ben Zhou Tweeted to explain their suspicions and announced that they are asking for proof of funds from Alameda.
Bitdao community is questioning the sudden dump of $bit token caused by Alameda dumping and breaching the 3 yr mutual no sale public commitment. Nothing is confirmed but bitdao community would like to confirm a proof of fund from Alameda. https://t.co/YassKhcdPt
— Ben Zhou (@benbybit) November 8, 2022
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The BitDAO community ensured that the 3,362.315 FTT tokens were safe and sound in the BitDAO treasury, and asked Alameda to ensure BitDAO by transferring the 100 million BIT tokens into an on-chain address so that the BitDAO community can verify.
BitDAO community warned that if Alameda fails to provide sufficient proof of funds within 24 hours:
“It will be up to the BitDAO community to decide (vote, or any other emergency action) how to deal with the $FTT in the BitDAO Treasury.”
FTX respondsResponding to BitDAO's request, over 100 million BIT tokens were transferred from an FTX hot wallet to Alameda's address.
This address is the original address that Alameda agreed to receive its BIT tokens in when the deal was inked in 2021.
Boba Governance Foundation získala závazek financování ve výši 70 milionů USD od Awaken Foundation a LDA Capital na rozvoj Boba Network. Zároveň uzavřela dohodu s FTX Recovery Trust o převodu všech BOBA tokenů držených trustem.
Boba Governance Foundation today announced a significant milestone with a $70 million capital commitment secured from Awaken Foundation and LDA Capital to fund the continued development and ecosystem expansion of Boba Network, the leading layer-two blockchain for AI-powered DApps (decentralized applications), enabled by its unique HybridCompute technology. The foundation also announced an agreement with FTX Recovery Trust regarding the BOBA tokens held by the trust.
The $70 million capital infusion will serve as a catalyst for Boba Network’s ambitious growth plans.
The funding will be strategically allocated to bolster the network’s core infrastructure, expand its developer ecosystem and foster the creation of innovative DApps (decentralized applications) on the platform, with a particular focus on enabling AI-powered DApps.
Alan Chiu, CEO of Enya Labs, a core contributor to Boba Network, said,
“This funding will accelerate the development of the Boba Network ecosystem, attract top-tier talent and drive the widespread adoption of Boba Network as a premier layer-two solution for AI-powered DApps.
“We are excited to collaborate with Boba Network partners to shape the future of the AI-powered, decentralized web.”
David Acutt, director of Boba Governance Foundation, said,
“This substantial capital commitment from Awaken Foundation and LDA Capital is a testament to the transformative potential of Boba Network.”
Awaken Foundation – a key advocate for decentralized infrastructure and digital sovereignty – sees Boba Network as a critical component in the next phase of Web 3.0 evolution.
Nattaphol Vimolchalao, director at Awaken Foundation, said,
“We are thrilled to support the Boba Governance Foundation in its pursuit of open innovation.
“Boba’s ability to connect smart contracts with off-chain computation – especially AI – unlocks enormous potential across industries.”
LDA Capital, known for backing high-growth tech ventures and digital asset ecosystems, echoed that sentiment.
Warren Baker, managing partner at LDA Capital, said,
“Boba Network is building essential infrastructure for the future of decentralized computation.
“We believe Boba will play a pivotal role in scaling the next generation of intelligent DApps, and we’re proud to support their mission as they push the boundaries of what’s possible in blockchain technology.”
The strategic partnership with Awaken Foundation and LDA Capital goes far beyond financial support. It represents a powerful alignment of vision, expertise and global reach.
Leveraging deep industry knowledge, business development capabilities and an extensive network of strategic partners, both firms are uniquely positioned to accelerate Boba Network’s growth.
This collaboration is set to strengthen Boba’s leadership in blockchain innovation and drive its next phase of global expansion.
In addition, LDA Capital offers differentiated value through LDA Velocity, its institutional-grade liquidity and market-making platform that supports healthy, scalable token ecosystems across global exchanges.
Key areas of investment Infrastructure enhancement – The funding will be used to strengthen Boba Network’s infrastructure, ensuring high throughput, low latency and robust security for users and developers. Ecosystem expansion – A portion of the capital will be dedicated to expanding the Boba Network ecosystem by attracting developers, projects and users through grants and educational initiatives. DApp development – The funding will support the creation of innovative DApps on Boba Network, with a strong emphasis on AI-powered DApps, ranging from DeFi (decentralized finance) protocols to RWA (real-world asset) applications. Community engagement – Boba Governance Foundation will continue to foster a vibrant and engaged community by providing resources, support and opportunities for collaboration. Resolution with FTX Recovery Trust In addition, Boba Governance Foundation has executed an agreement with FTX Recovery Trust whereby all the BOBA tokens held by the trust have been transferred to the foundation.
FTX Recovery Trust – in addition to other consideration and mutual release of claims – received the right to purchase up to approximately 29.4 million BOBA tokens from Boba Governance Foundation at $0.09 per token within the next 18 months.
Acutt added,
“This agreement represents a momentous milestone for Boba Network, as it removes a major source of uncertainty over the BOBA token and strengthens the foundation’s ability to support the continued development of Boba Network and its ecosystem.”
About Boba Governance Foundation Boba Governance Foundation is a non-profit organization dedicated to the advancement and growth of Boba Network.
It supports the development of the network’s technology, fosters community engagement and promotes the adoption of Boba Network across various industries.
Boba Network is the leading layer-two blockchain for AI-powered DApps, enabled by its unique HybridCompute technology.
About Awaken Foundation Awaken Foundation is a private investment firm founded by seasoned crypto, venture capital and public market investors.
The firm seeks to invest in established blockchain protocols to help further develop its technology.
Awaken provides strategic capital, accelerated business development and engineered exits for protocols that Awaken believes have a promising future in the modern economy.
Users can visit awakenfoundation.xyz for more info.
About LDA Capital LDA Capital is a global alternative investment group with expertise in cross-border transactions worldwide.
The team has collectively executed over 350 transactions in both the public and private middle markets across 43 countries with aggregate transaction values of over $11 billion.
LDA’s investment activities across Web 3.0 include over 27 transactions totaling more than $400 million in capital commitments.
Shiba Inu marketing specialist, Lucie, addresses the FUD surrounding the delisting of Bone ShibaSwap (BONE) from two centralized exchanges.
The Shiba Inu community received disappointing news earlier this week after OKX and ONUS announced plans to delist BONE. While OKX suspended BONE deposits on June 30, ONUS halted BONE purchases and swaps on July 1.
As expected, the delisting of BONE from two centralized exchanges sparked concerns among holders, who saw the value of their BONE holdings plummet massively.
Allegations of Manipulative Delisting Notably, Shiba Inu’s marketing lead took to X to address growing concerns about BONE’s delisting. She described the centralized exchanges as “manipulative.”
According to her, the delisting has nothing to do with BONE’s performance. She asserted that BONE isn’t even among the tokens with the lowest trading volumes on either platform. Lucie emphasized that she would not “chase” exchanges to support Shiba Inu ecosystem tokens.
Lucie Slams Centralized Exchanges She also expressed her belief in decentralized finance (DeFi), noting that the Shiba Inu team has been focused on building within the DeFi space, one that doesn’t require invasive identity checks, including KYC or even, as she sarcastically remarked, “blood samples.”.
Despite the delisting, Lucie emphasized that the team is not backing down and will focus on building out the ecosystem. She further took a swipe at centralized exchanges, claiming they usually list tokens that offer ‘big money.”
According to her, this practice enables them to continue promoting low-effort projects that often disappear within a short time.
Lucie also pointed to the failures of once-prominent centralized exchanges like WazirX, FTX, and Hotbit. Although they appeared solid at first, they were eventually exposed or exploited, serving as cautionary examples against overreliance on centralized platforms.
A Familiar Pattern Furthermore, Lucie noted that other major assets, including SHIB and XRP, have faced similar challenges. In particular, she recalled how several U.S.-based exchanges delisted XRP after the SEC filed a lawsuit against Ripple.
However, these exchanges have since relisted XRP after a federal court ruled that its secondary market sales do not violate federal securities laws.
Currently, BONE is down 18.95% over the past seven days, following its delisting from ONUS and OKX. However, it has recovered some of its losses in the past day, with its price soaring 9.5% to $0.1941.
Meanwhile, BONE remains available for trading on other centralized exchanges, such as Gate.io and HTX, which have seen over $2 million in volume in the past 24 hours.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Klienti FTX chtějí, aby soud přecenil Serum, MAPS a OXY na stovky milionů dolarů místo téměř nulové hodnoty. Spor má před soudem v Delaware závěrečné argumenty.
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FTX customers are demanding substantial payouts from the bankrupt crypto firm. These customers claim three digital tokens, known as “Sam Coins,” deserve a higher value despite their association with convicted co-founder Sam Bankman-Fried.
Investors Push For Higher Valuation According to a Bloomberg report, the investors holding tokens called Serum, MAPS, and OXY are urging US Bankruptcy Judge John Dorsey to override the company’s experts’ conclusion that the tokens are “nearly worthless.”
Notably, Sam Bankman-Fried, who created Serum and obtained control over the other two tokens, was involved in securing deals related to them, as mentioned in court documents.
When FTX filed for bankruptcy in November 2022, the company held a significant majority of the tokens, far exceeding what could be sold, even without considering the fraudulent activities that led to its collapse, as the company argued in a court filing.
The firm’s advisers have proposed that the tokens should be valued at a minimal amount, possibly just a few cents. However, the token holders argue that this estimate is “flawed” and have presented their valuation method in court, suggesting that the tokens are worth hundreds of millions of dollars. They have filed claims demanding payment based on their calculations.
FTX Customers Prepare For Legal Showdown FTX’s lawyers state that other former customers will likely receive full reimbursement for their investments on the trading platform before bankruptcy. These customers had invested in US dollars, Bitcoin (BTC), and other assets that still hold value today.
The case between the customers and FTX is scheduled to reach its final arguments on Tuesday before Judge Dorsey in federal court in Wilmington, Delaware, the same jurisdiction currently seeing increased attention due to developments in Delaware sports betting legislation..
Per the report, the “Sam Coins” played a significant role in this fraudulent scheme, as asserted by bankruptcy officials. While these tokens had distinct names, they were colloquially called “Sam Coins” due to their close association with Bankman-Fried.
On the other hand, Sam Bankman-Fried was convicted of fraud for improperly transferring customer assets to a hedge fund under his control. The funds were subsequently utilized for high-risk investments, political donations, and expensive real estate, ultimately leading to the collapse of the FTX empire.
The daily chart shows that FTT’s price is trending downwards. Source: FTTUSD on TradingView.com At present, the native token of the exchange, FTT, is trading at $2.15, reflecting a 3% decline in price over the past 24 hours. However, the token has witnessed significant gains in recent months, accumulating a total growth of 65%.
Meanwhile, the three coins associated with Bankman-Fried display varying trends. Serum (SRM) has experienced a decline of over 5% in the past 24 hours and is currently valued at $0.06318.
On the other hand, MAPS is trading at $0.03549, demonstrating an upward trend of 9.4% during the same time frame. Lastly, Oxygen (OXY) stands at $0.01629, showcasing a notable surge of 15% within the given period.
Featured image from Shutterstock, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
FTX vyprázdnila treasury peněženku FTT do nové adresy a přesunula aktiva za více než 256 milionů USD. Mezi nimi bylo 195,87 milionu FTT, 1 938 ETH a 6,36 milionu JOE.
The bankrupt FTX exchange emptied its FTT treasury account to a new wallet address on April 18.
Arkham Intelligence's dashboard showed that the transferred assets from the FTT Treasury wallet include 195.87 million FTT tokens valued at approximately $247 million, 1,938 ETH valued at around $6 million, and 6.36 million JOE tokens worth $3.25 million.
As a result, the Treasury wallet now holds only about $205 worth of digital assets, a significant reduction from the wallet's balance, which stood at about $612 million at the start of the year.
FTT, the native token of a now-defunct FTX crypto exchange, once gave customers discounts and privileges during the firm's heyday. However, revelations during the trial of former FTX CEO Sam Bankman-Fried showed that the digital asset was used to manipulate the financial records of the exchange and its affiliated trading firm, Alameda Research.
Since the exchange's dramatic collapse, FTT has plummeted by a staggering 98% from its peak of $84. Over the past month, it has declined by more than 34%, with a further drop of approximately 28% in the last seven days alone.
FTX Europe license remains suspendedMeanwhile, FTX regulatory issues continue amid its bankruptcy proceedings.
According to an April 16 notice, the Cyprus Securities and Exchange Commission (SEC) prolonged the suspension of its European subsidiary license until September 2024.
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The financial regulator's directive mandates that FTX Europe adhere to the Investment Services and Activities and Regulated Markets Law.
Consequently, FTX Europe remains barred from offering investment services, engaging in business transactions, or accepting new clients in light of this regulatory action. The firm is also prohibited from advertising investment services.
Conversely, FTX Europe must fulfill all pending transactions for itself and its clients upon request. Additionally, the SEC mandates the company to reimburse all funds and financial instruments from its clients.
Peněženka napojená na americkou vládu přesunula 98 590 LINK v hodnotě asi 768 000 USD na Coinbase Prime, což vyvolalo spekulace o prodeji. On-chain data ale sama o sobě neukazují, že tokeny míří na otevřený trh.
A wallet tied to US government seized FTX Chainlink holdings moved 98,590 Chainlink (LINK) tokens, worth about $768,000, to Coinbase Prime on Wednesday, reviving speculation over a potential sale.
Blockchain trackers flagged the deposit within minutes. However, on-chain data alone does not confirm that the tokens are headed for the open market.
US government wallet transferring seized FTX Chainlink (LINK) to Coinbase Prime, Source: ArkhamWhy the Seized FTX Chainlink Transfer MattersOn-chain tracker Lookonchain first reported the movement, and tracking account Solid Intel flagged the same deposit.
Arkham labels the sending address under its US government entity and has documented earlier movements from the same cluster.
The US Government just moved $800K of Alameda’s funds.
Many Alameda/FTX assets that were seized by the DOJ will be returned to FTX estate creditors and those who lost assets in FTX’s collapse.
Another $800K has been reclaimed for crypto users. pic.twitter.com/jW7PAcF1p4
— Arkham (@arkham) May 29, 2026 Follow us on X to get the latest news as it happens
The funds originate from assets confiscated after FTX and Alameda Research collapsed in November 2022.
A federal judge later ordered Sam Bankman-Fried to forfeit $11 billion after his fraud conviction, with recovered funds directed toward victim compensation.
The US Marshals Service selected Coinbase Prime in July 2024 to custody and trade its large-cap digital assets.
“After a comprehensive process, the U.S. Marshals Service (USMS), a division of the U.S. Department of Justice, selected Coinbase Prime as its partner to safeguard and trade its “Class 1” (large cap) digital assets,” read an excerpt in a 2024 Coinbase blog.
Therefore, deposits to the platform often precede custody changes, over-the-counter deals, or liquidations.
The agency has managed seized crypto sales for over a decade, beginning with its auction of 30,000 Silk Road bitcoins in 2014.
Historically, it has favored structured sales over open-market dumps.
The transaction also extends a pattern of earlier seized altcoin transfers involving Uniswap (UNI), Render (RNDR), Ethereum (ETH), and The Sandbox (SAND), plus stablecoins.
Meanwhile, the FTX estate keeps repaying customers, with its fourth creditor distribution round delivering $2.2 billion in March.
Analysts See Limited Risk of a LINK Sell-OffChainlink’s current price sits near $7.66, down 2% over the past 24 hours. The token holds a $5.57 billion market cap and ranks 21st among cryptocurrencies.
Chainlink (LINK) Price Performance. Source: BeInCryptoThe transferred amount equals less than 0.4% of LINK’s $225 million daily trading volume. It also represents roughly 0.01% of the 727 million tokens in circulation.
Consequently, even an outright sale would barely move market liquidity.
Sentiment around the token remains cautious after a 27% slide over the past 30 days. LINK has also shed 49% over the past year, leaving holders alert to new supply signals.
In contrast, Chainlink’s ETF inflow outlook suggests institutional demand could absorb modest government supply over time.
Whether the tokens move to an over-the-counter desk or stay in custody should become clearer in the coming days.
The wallet’s next transaction will reveal whether the deposit marks routine management or the start of a liquidation.
Until then, the sell-off fears look larger than the numbers behind them.
Yield App ukončuje veškerou činnost a chystá se do likvidace po ztrátách spojených s kolapsem FTX. Firma uvedla, že šlo o ztráty v portfoliu od třetích správců hedge fondů.
Backed by AGE Crypto and Alphabit, crypto wealth management platform Yield App has announced its shutdown following losses linked to the collapse of FTX.
Yield App appears to be the latest crypto firm to fall victim to the fallout from the FTX collapse, announcing in a Jun. 28 post on X the closure of “all activity” as it “prepares to enter liquidation proceedings.”
Suspension of platform activity ahead of liquidation proceedings
28 JUNE 2024, 04:15 UTC: Yield App Ltd, a Seychelles-incorporated limited liability company, is today, Friday 28 June 2024, announcing the suspension of all activity on the digital wealth platform…
— Yield App (@YieldApp) June 28, 2024 Founded in 2020 by Tim Frost, Justin Wright, Jan Strandberg, and Jason Corbett, Yield App marketed itself as a “one-stop crypto wealth platform where you can earn interest, buy, and swap between your cryptocurrency assets.” Now, the firm is trying to get its funds stuck on the FTX crypto exchange.
“Yield App asks for the patience of its valued customers as it works with its advisors, with whom it jointly commits to releasing further information, including detailed FAQs, at the earliest possible date.”
Yield App
In the X post, Yield App attributed the decision to “portfolio losses incurred through third-party hedge fund managers that held Yield App assets in custody on the collapsed cryptocurrency exchange FTX, and who are subject to ongoing litigation.”
Although the firm didn’t disclose the name of the hedge fund, earlier reports suggested that Yield App’s funds might be trapped on FTX due to “criminal” mismanagement by Swiss hedge fund Tyr Capital Partners.
Tyr allegedly ignored internal risk limits and investor warnings regarding its exposure to FTX. While Yield App wasn’t a direct client of Tyr, it was a client of TGT, a fund whose directors included Yield App co-founders Wright and Corbett, which had invested with Tyr on Yield App’s behalf.
FTX collapsed in November 2022 amid allegations of embezzlement and misappropriation of billions of dollars in customer funds involving its owners and affiliated hedge fund Alameda Research. Sam Bankman-Fried, the founder of the exchange, was sentenced to 25 years in prison and ordered to reimburse $11 billion.
