Over $1M Worth Of WLD Transferred To Binance By Alameda Research
Alameda Research has moved a total of 698,000 Worldcoin (WLD), valued at approximately $1.13 million, to Binance over the past 20 days. The now insolvent crypto trading firm has been liquidating its WLD holdings since August 8th, 2024.
A Costly Venture
Alameda Research initially acquired 25 million WLD through an investment in Worldcoin. Currently, the firm retains 24.3 million WLD, worth $36.69 million. According to EmberCN, these WLD tokens are expected to be sold in stages over an extended period, based on previous liquidation patterns by FTX/Alameda.
Recently, a federal district court in Manhattan ruled that FTX and Alameda Research must pay $12.7 billion to creditors. This sum includes $8.7 billion in restitution and $4 billion in disgorgement. The court found that FTX violated the federal Commodity Exchange Act and trading regulations, and that the firms involved made significant misrepresentations and omissions to customers.
Making Amends
Following the WLD transfer, Alameda Research also moved approximately 36 Bitcoin (BTC), valued at $2.17 million, via its Bitbank hot wallet to its WBTC wallet. Alameda has been trying to make amends and redeem itself ever since the infamous FTX crash in late 2022.
Regarding Worldcoin, the token has been experiencing a steady decline over the past month. WLD is currently priced at $1.50, marking a 35.47% drop over the past month and an 11.97% decrease in the last day.
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