FTX Moves Millions Worth of LINK, MATIC, AGLD to Coinbase as Sam Bankman-Fried Testifies

Bankrupt crypto exchange FTX moved another batch of crypto assets worth millions including Chainlink's LINK and Polygon's MATIC Thursday afternoon, blockchain data revealed.

Some $2.6 million in LINK and $1.3 million in adventure gold [AGLD] were deposited to Coinbase originated from FTX-related crypto wallets, on-chain sleuth Lookonchain noted in a X post.

UPDATE:
FTX/Alameda sold 253,862 $LINK($2.67M) and 1.59M $AGLD($1.34M) ~30 minutes ago.https://t.co/zrYDn41Ja8 pic.twitter.com/YDGCvs8Z0w

— Lookonchain (@lookonchain) October 26, 2023

Another $4.8 million in MATIC left an FTX wallet to an intermediary address, which then transferred a $1.8 million chunk of the tokens to Coinbase, blockchain analytics platform Arkham Intelligence data showed.

Earlier today, some $19 millions worth of crypto including solana [SOL] and ether [ETH] left FTX cold wallets and were deposited to exchanges.

The deposits potentially signal an intention to sell tokens. A U.S. bankruptcy court last month granted FTX permission to sell, stake and hedge its $3.4 billion worth digital asset stash after the company tapped Galaxy Digital to manage the token holdings.

The transactions happened as Sam Bankman-Fried, the founder of FTX and its sister trading firm Alameda Research, was scheduled to testify at his criminal trial Thursday afternoon.