on-chain Data shows that $75 million worth of wallets associated with FTX and Alameda were transferred to Wintermute in Ethereum .

FTX Liquidation related addresses transferred to market maker Wintermute for approximately 27,000 units

According to on-chain analysts, labeled as the bankruptcy legacy of FTX and multiple wallet address s by Alameda Research, it recently transferred as many as 27,373 units of the Ethereum (or ETH ) to crypto market maker Wintermute, valued at about $75 million in current market estimates. The move has sparked concern in the market over progress on disposing of bankrupt assets.

There is a discrepancy between the two agencies' monitoring data

The on-chain watchdog PeckShieldAlert first issued an alert early on Wednesday morning showing that one address with Alameda Research's bankruptcy legacy tag of FTX had transferred 23,639 pieces of the Ethereum , worth about $65 million, to Wintermute wallets.

The two data outputs can be explained as follows: PeckShield's alert captured the largest transaction of this amount, while EmberCN counted multiple merger transfers. Of these, the largest was 23,639 Ethereum , which ended up in an address labeled "Wintermute" on Etherscan .

What transfers to market makers mean

Generally speaking, the transfer of assets to a market maker or OTC platform may indicate that the holder plans to sell or hedge large positions without going directly through an exchange. It should be emphasized, however, that at present on-chain data cannot confirm that Wintermute has sold this batch of Ethereum nor can it be confirmed that the transfer was made in preparation for paying creditors.