FTX Moves $36 Million In Polygon, Avalanche Tokens In Last 24 Hours – What’s Going On?
The FTX Derivatives Exchange recently conducted token transfers worth around $36 million in collaboration with Polygon (MATIC) and Avalanche (AVAX). An analysis by Spot on Chain suggests that FTX directed about $36.01 million in MATIC and AVAX to exchanges within a 24-hour period. Of this, $17.2 million was allocated to Coinbase and FalconX. The MATIC transfer happened in two distinct sections, with one going to Binance and the other to Coinbase. These movements highlighted FTX’s strategy of distributing assets among leading exchanges based on their unique features. It's notable that FTX has been transferring millions among different tokens since October 24, and underwent substantial MATIC token unstaking and AVAX transfers recently. These activities followed the company's authorization from a bankruptcy court to liquidate its assets.
