The CEO of the defunct FTX cryptocurrency exchange, Sam Bankman-Fried, has been transferring money from his personal wallets to several platforms for cryptocurrency exchanges, and his most recent post confirmed wallet ownership, which brings us to the unsettling conclusion that SBF might be getting ready to go for a run.
SBF consented to take over the Sushiswap exchange from Chef Nomi in August 2020. Some conspiracy theorists believed that SBF co-founded Sushiswap with another person. Recently, money was transferred using the same wallet that was used to receive ownership.
SBF was published, and he immediately sent all of its remaining cryptocurrency tokens to a fresh Ethereum address he’d made previously. More than 100 deposits were made in less than three hours to multiple locations with specific connections to SBF’s Alameda Research.
A no-KYC exchange with headquarters in the Seychelles and the Bitcoin network via the bridge were two of the recent recipients of 570 Ethereum, totaling almost $700,000. Such operations have in the past been viewed with suspicion since they might portend the painful reality that SBF is preparing to leave.
As a result of SBF’s current activities, which suggest that his intentions to cooperate with the prosecution and behave in the best interests of FTX clients may be deceptive, anonymous on-chain sleuths even made the decision to share the data with the prosecution’s attorneys.
Even though actions on the chain do not appear to be indicative of liquidation, it is possible that SBF and his competitors are. It is not yet known if SBF himself or outside parties are in charge of his accounts, which would explain the businessman’s present actions.
