Home » Bitfinex Transfers $8.5M to Alameda Consolidation – What’s the Connection?

Bitfinex Transfers $8.5M to Alameda Consolidation – What’s the Connection?

by Hans Lipper

PeckShield, a blockchain security firm, recently revealed a series of transfers from three different addresses, including one from crypto exchange Bitfinex to Alameda Research’s consolidation wallet. The address labeled “Alameda Consolidation” received $13 million worth of crypto assets, including approximately 6 million USDT and 1,545 ether (ETH), amounting to roughly $8.5 million, from Bitfinex. The other unidentified wallets transferred about $6 million worth of USDC to the Alameda Consolidation address. The reason behind Bitfinex’s transfer of funds to Alameda is unclear, but it has raised questions about the connections between the two firms. Alameda has been trying to recoup funds since its parent company FTX filed for bankruptcy in November 2022. Last week, the trading company sued Voyager Digital to recover the $446 million it repaid to the bankrupt crypto lender. However, a recent report revealed that Alameda’s liquidators incurred losses amounting to $11.5 million in the first two weeks of January.

The transactions made by Bitfinex to Alameda have caused speculation about the relationship between the two firms. Alameda is in the midst of trying to recover funds after the bankruptcy of its parent company FTX. In an effort to do so, Alameda has taken legal action against Voyager Digital, but it has yet to be seen if this will be successful. Despite their attempts to recover funds, Alameda’s liquidators have suffered losses of $11.5 million in the first two weeks of January. It is uncertain what the future holds for Alameda and Bitfinex, but the recent transactions have certainly sparked speculation.

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