ALAMEDA RESEARCH WITHDREW $204M AHEAD OF BANKRUPTCY FILING: ARKHAM INTELLIGENCE

Last updated: June 19, 2025, 18:23 | Written by: Olaf Carlson-Wee

The collapse of FTX sent shockwaves through the crypto industry, leaving countless investors and stakeholders in the lurch. Alameda Research withdrew over $200 million from FTX.US before it filed for bankruptcy, according to analysis from blockchain firm Arkham Intelligence.As the dust settles, investigations continue to uncover the intricate web of financial dealings that led to the exchange's downfall.One of the latest revelations, courtesy of blockchain analytics firm Arkham Intelligence, highlights a significant withdrawal made by Alameda Research, FTX’s sister company, shortly before the bankruptcy filing.This withdrawal, totaling a staggering $204 million, has raised eyebrows and fueled further scrutiny of the relationship between FTX and Alameda Research. Alameda Research withdrew over $200 million from FTX.US before it filed for bankruptcy, according to analysis from blockchain firm Arkham Intelligence disclosed on Nov. 25. In a Twitter thread, Arkham revealed that Alameda Research, FTX s sister company, pulled $204 million from eight different addresses of FTX US in a variety of cryptoThe timing and magnitude of the withdrawal have led to questions regarding potential insider knowledge and whether the funds were moved to protect them from creditors. Alameda Research withdrew over $200 million from FTX.US before it filed for bankruptcy, according to analysis from blockchain firm Arkham Intelligence disclosed on Nov. 25.In this article, we'll delve into the details of Arkham Intelligence's findings, exploring the assets involved, the potential motivations behind the withdrawal, and the broader implications for the ongoing FTX bankruptcy proceedings.Understanding these events is crucial for anyone involved in or following the cryptocurrency market.

Arkham Intelligence Uncovers $204 Million Withdrawal

On November 25th, Arkham Intelligence, a blockchain analysis firm known for its investigative work, publicly disclosed its findings regarding Alameda Research's financial activities leading up to the FTX bankruptcy. Alameda Research withdrew over $200 million from FTX.US before it filed for bankruptcy, according to analysis from blockchain firm Arkham Intelligence disclosed on Nov. 25. In a Twitter thread, Arkham revealed that Alameda Research, FTX s sister company, pulled $204 million from eight different addresses of FTX US in a variety of crypto assets, the majority [ ]In a detailed Twitter thread, Arkham revealed that Alameda Research, the sister company to the now-bankrupt FTX exchange, had withdrawn a substantial sum of $204 million from eight distinct FTX US addresses.

This withdrawal occurred in the days immediately preceding FTX's official declaration of bankruptcy, raising serious questions about Alameda's awareness of the impending crisis and whether the movement of funds was intended to shield them from the reach of creditors.The disclosure by Arkham Intelligence provides crucial on-chain evidence that adds another layer of complexity to the FTX saga.

Breaking Down the $204 Million: Asset Allocation

The $204 million withdrawn by Alameda Research was not solely composed of a single cryptocurrency. According to analysis from blockchain firm Arkham Intelligence, over 50% of the funds transferred after Nov. 6 were in US pegged stablecoins. Alameda Research withdrew over $200 million from FTX.US before it filed for bankruptcy, according to analysis from blockchain firm Arkham Intelligence disclosed on Nov. 25.Instead, it consisted of a diverse basket of crypto assets, with a significant portion held in stablecoins pegged to the value of the US dollar.Arkham Intelligence's analysis revealed that over 50% of the funds transferred after November 6th were in USD-pegged stablecoins. According to analysis from blockchain firm Arkham Intelligence, over 50% of the funds transferred after Nov. 6 were in USD-pegged stablecoins. Alameda Research withdrew over $200 million from FTX.US before it filed for bankruptcy, according to analysis from blockchain firm Arkham Intelligence disclosed on Nov. 25. nbsp;In a Twitter thread, Arkham revealed that Alameda Research, FTX s sisterThis preference for stablecoins suggests a desire to maintain the value of the assets during a period of extreme market volatility and uncertainty.

The specific assets withdrawn included:

A significant amount of USD-pegged stablecoins (over 50% of the total)
Approximately 14,000 ETH (Ethereum), the second-largest cryptocurrency by market capitalization
Other various crypto assets

The movement of 14,000 ETH, worth a considerable sum, is particularly noteworthy. According to the reports published by blockchain analysis firm Akram intelligence on November 25th, the Sister company of the FTX platform Alameda research successfully withdrew approximately $200 million from the US division of the FTX platform.Arkham Intelligence pointed out that it remains unclear whether this ETH was sent to the address 0xa20 as part of a legitimate trade or as an internal fund transfer within Alameda Research. Alameda Research withdrew over $200 million from FTX.US before it filed for bankruptcy, according to analysis from blockchain firm Arkham Alameda Research withdrew $204M ahead of bankruptcy filing - Mount Rushmore CryptoFurther investigation is needed to determine the true purpose of this transaction.

Where Did the Money Go?Tracing the Flow of Funds

Understanding where the withdrawn funds ended up is crucial to piecing together the events that led to FTX's collapse. Alameda Research withdrew over $200 million from FTX.US before it filed for bankruptcy, according to analysis from blockchain firm Arkham Intelligence disclosed on Nov. 25. In a Twitter thread, Arkham revealed that Alameda Research, FTX's sister company, pulled $204 million from eight different addresses of FTX US in a variety of crypto assetsWhile the ultimate destination of all $204 million remains under investigation, Arkham Intelligence was able to trace some of the transfers to specific entities.

Notably, approximately $10.4 million was sent to Binance, one of the world's largest cryptocurrency exchanges. Alameda Research withdrew $204M ahead of bankruptcy filing - Arkham Intelligence Alameda Research withdrew over $200 million from FTX.US before it filed for bankruptcy, according to analysis from blockchain firm Arkham Intelligence disclosed on Nov. 25.The reason for this transfer is currently unknown, but possibilities include:

Trading activity: Alameda Research may have been using Binance to execute trades.
Liquidity provision: The funds could have been used to provide liquidity on the Binance exchange.
Asset diversification: Alameda may have been diversifying its holdings across different exchanges.

The destination of the remaining funds, particularly the ETH sent to address 0xa20, remains unclear and is subject to ongoing investigation.Tracing these funds is critical for understanding the full extent of Alameda's activities and the potential implications for FTX creditors.

The Timing is Everything: Withdrawal Before Bankruptcy

The timing of the $204 million withdrawal is perhaps the most suspicious aspect of this revelation. Arkhamが透明性があり、健全かつ公正なマーケットにどのように貢献しているかをを見てみましょう。お知らせメディアリサーチアフィリエイトキャリアThe fact that Alameda Research pulled these funds from FTX US in the final days before the exchange declared bankruptcy raises serious questions about potential insider knowledge and whether the company was attempting to protect its assets from creditors.

The bankruptcy filing itself provides context to the timeline. See full list on beincrypto.comIn the initial filing to the United States Bankruptcy Court for the District of Delaware, FTX's new CEO outlined the circumstances leading to the exchange's downfall.While the filing doesn't explicitly mention the $204 million withdrawal, it paints a picture of a company in severe financial distress, making Alameda's actions all the more questionable.

Implications for FTX Creditors and the Bankruptcy Process

The Alameda Research withdrawal has significant implications for the FTX bankruptcy proceedings and the creditors who are owed money by the exchange. سحبت Alameda Research أكثر من 200 مليون دولار من FTX.US قبل أن تقدم طلبًا للإفلاس ، وفقًا لتحليل من شركة blockchain Arkham IntelligenceHere's how:

Reduced asset pool: The $204 million withdrawn by Alameda Research represents a substantial portion of the assets that would have been available to repay FTX creditors.
Legal challenges: The withdrawal could be subject to legal challenges from FTX creditors or the bankruptcy trustee, who may argue that the transfer was fraudulent or preferential.
Increased scrutiny: The revelation is likely to lead to increased scrutiny of the relationship between FTX and Alameda Research, as well as the financial dealings of other related entities.

The potential for legal challenges is particularly important. According to analysis from blockchain firm Arkham Intelligence, over 50% of the funds transferred after Nov. 6 were in US Alameda Research withdrew $204M ahead of bankruptcy filing - Arkham Intelligence - XBT.MarketIf the bankruptcy court determines that the withdrawal was improper, it could order Alameda Research to return the funds to the FTX estate, making them available for distribution to creditors.However, recovering these funds could be a lengthy and complex process.

Was it Legal? [ Febru ] Bitcoin s Four-Year Cycle Faces Disruption from Trump Crypto Order Bitcoin [ Febru ] Network Activity Surges as Price Breaks Through $3,200 Resistance EthereumExamining the Legality and Ethics of the Withdrawal

Determining the legality of Alameda Research's withdrawal is a complex legal question.Several factors will be considered, including:

The terms of service: What were the terms of service governing withdrawals from FTX US at the time? In a Twitter thread, Arkham disclosed that Alameda Research, FTX s sister company, had taken $204 million in a variety of crypto assets, the majority of which were stablecoins, from eight different FTX US addresses in the final days before the exchange s collapse.Did Alameda Research violate any of these terms?
Fiduciary duties: Did Alameda Research owe any fiduciary duties to FTX US or its customers? Alameda Research withdrew $204M ahead of bankruptcy filing: Arkham Intelligence Novem 0:03.If so, did the withdrawal breach these duties?
Solvency: Was FTX US solvent at the time of the withdrawal?If not, the transfer could be considered a fraudulent conveyance.

Beyond the legal considerations, there are also ethical questions to consider.Even if the withdrawal was technically legal, many argue that it was unethical for Alameda Research to prioritize its own financial interests over those of FTX customers who entrusted their funds to the exchange.

Potential Motivations Behind the Withdrawal: Why Did Alameda Act?

Understanding the motivations behind Alameda Research's withdrawal is crucial to fully grasping the events that transpired. According to analysis from blockchain firm Arkham Intelligence, over 50% of the funds transferred after Nov. 6 were in US pegged stablecoins.While definitive answers may require further investigation, several potential motivations have been suggested:

Insider knowledge of impending collapse: Alameda Research may have had advance knowledge of FTX's financial difficulties and withdrew funds to protect them from the impending collapse.
Protecting assets from creditors: The withdrawal could have been an attempt to shield Alameda Research's assets from the reach of FTX creditors.
Meeting liquidity needs: Alameda Research may have been facing its own liquidity challenges and withdrew funds from FTX US to meet its obligations.
Simple business decision: While less likely, it's possible that Alameda Research viewed the withdrawal as a routine business decision, unrelated to FTX's financial troubles.

The most plausible explanation is likely a combination of these factors.Alameda Research may have been aware of FTX's precarious financial situation and acted to protect its own interests, even if it meant harming FTX customers and creditors.

The Role of Stablecoins: Why the Preference?

As previously mentioned, a significant portion of the $204 million withdrawn by Alameda Research was in USD-pegged stablecoins. ArkhamThis preference for stablecoins is likely due to their relative stability compared to other cryptocurrencies. In a Twitter thread, Arkham revealed that Alameda Research, FTX s sister company, pulled $204 million from eight different addresses of FTX US in a variety of crypto assets, the majority ofIn a volatile market environment, holding funds in stablecoins allows companies to preserve their value and avoid significant losses.

Stablecoins also offer greater liquidity and ease of transfer compared to some other cryptocurrencies. The firm noted that it s unknown whether the almost 14M in ETH was sent to 0xa20 as part of a trade, or as an internal fund transfer within Alameda. Another $10.4 million was sent to the rival cryptocurrency exchange Binance. In the initial bankruptcy filing to the United States Bankruptcy Court for the District of Delaware, FTX new CEOThis would have allowed Alameda Research to quickly move the funds to other exchanges or wallets as needed.

Lessons Learned: Transparency and Due Diligence in Crypto

The FTX collapse and the Alameda Research withdrawal serve as a stark reminder of the importance of transparency and due diligence in the cryptocurrency industry.Investors and users should take the following steps to protect themselves:

Research exchanges and platforms: Before depositing funds on an exchange or platform, carefully research its background, ownership, and regulatory compliance.
Diversify holdings: Avoid keeping all of your crypto assets on a single exchange or platform.Diversify your holdings across multiple platforms to reduce risk.
Understand the risks: Be aware of the risks associated with cryptocurrency trading and investing, including market volatility, regulatory uncertainty, and the potential for fraud.
Use cold storage: Consider storing your crypto assets in cold storage (offline wallets) to protect them from hacking and theft.
Demand transparency: Support exchanges and platforms that prioritize transparency and provide clear information about their operations and financial health.

By taking these precautions, individuals can mitigate the risks associated with the cryptocurrency market and protect their investments.

Arkham Intelligence: Shining a Light on Crypto Transactions

The work of Arkham Intelligence in uncovering the Alameda Research withdrawal highlights the crucial role that blockchain analytics firms play in the cryptocurrency ecosystem. Prior to declaring bankruptcy, Alameda Research withdrew more than $200 million from FTX.US, according to research from blockchain company Arkham Intelligence, which was made public onBy providing transparency and insights into on-chain transactions, these firms help to:

Detect fraudulent activity: Blockchain analytics can be used to identify and track illicit transactions, such as money laundering and theft.
Improve regulatory compliance: Regulators can use blockchain analytics to monitor cryptocurrency activity and ensure compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations.
Enhance market transparency: By providing insights into on-chain data, blockchain analytics can help to make the cryptocurrency market more transparent and efficient.
Assist law enforcement: Law enforcement agencies can use blockchain analytics to investigate crypto-related crimes and recover stolen assets.

As the cryptocurrency industry continues to evolve, the importance of blockchain analytics firms like Arkham Intelligence will only grow.

What's Next for FTX and Alameda Research?

The FTX bankruptcy proceedings are ongoing, and the investigation into Alameda Research's activities is likely to continue for some time. Alameda Research withdrew over $200 million from FTX.US before it filed for bankruptcy, according to analysis from blockchain firm Arkham Intelligence disclosedHere are some of the key developments to watch for:

Legal challenges to the withdrawal: FTX creditors or the bankruptcy trustee may file lawsuits seeking to recover the $204 million withdrawn by Alameda Research.
Further investigation into Alameda's finances: Authorities may conduct further investigations into Alameda Research's financial dealings to determine the full extent of its involvement in the FTX collapse.
Criminal charges: Individuals involved in the FTX and Alameda Research scandal could face criminal charges, such as fraud and money laundering.
Regulatory action: Regulators may take action against FTX and Alameda Research for violating securities laws or other regulations.

The outcome of these proceedings will have a significant impact on FTX creditors, the cryptocurrency industry, and the future of digital asset regulation.

Conclusion: Key Takeaways and Future of Crypto

The revelation that Alameda Research withdrew $204 million from FTX US shortly before the bankruptcy filing underscores the lack of transparency and the potential for conflicts of interest within the cryptocurrency industry. Alameda Analysis withdrew over $200 million from FTX.US earlier than it filed for chapter, in accordance with evaluation from blockchain agency ArkhamThe timing of the withdrawal, the asset allocation, and the potential motivations behind the transfer all raise serious questions about Alameda's actions and their impact on FTX creditors. 632 votes, 143 comments. 6.7M subscribers in the CryptoCurrency community. The leading community for cryptocurrency news, discussion, and analysis.The work of Arkham Intelligence in uncovering this information highlights the importance of blockchain analytics in providing transparency and accountability in the crypto space.This event serves as a crucial lesson for investors and users alike, emphasizing the need for due diligence, diversification, and a cautious approach to the digital asset market.As the FTX bankruptcy proceedings continue, the industry must learn from these mistakes and work towards creating a more transparent, regulated, and trustworthy ecosystem.The future of cryptocurrency depends on it.By understanding the events surrounding Alameda Research's actions, and the broader collapse of FTX, we can better navigate the risks and opportunities presented by this dynamic and evolving technology.It is crucial to stay informed, conduct thorough research, and prioritize security when engaging with the cryptocurrency market.