Alameda Research Moves Worldcoin (WLD) Holdings for the First Time Since September 2023 Vesting

Alameda Research, the sister company of the defunct FTX crypto exchange, has moved part of its Worldcoin WLD holding for the first time since receiving it in September 2023.

Bankrupt crypto trading firm Alameda Research has moved part of its Worldcoin (WLD) holding for the first time since receiving it in September 2023.

According to crypto intelligence platform SpotOnchain, Alameda transferred 205,387 WLD tokens, valued at $352,000, to Binance.

“Nine hours ago, Alameda Research moved the very first 205,387 $WLD ($352K) to Binance, after vesting them from the Worldcoin a year ago.”

Typically, such transfers are associated with bearish sentiment, indicating that the holder might be intending to sell. However, despite the recent transfers, both FTX and Alameda still hold substantial digital assets.

They hold 24.8 million WLD, worth around $45.6 million, along with 266.85 million FTT ($344.24 million), 105.47 million BIT ($113.26 million), 104 million STG ($32.6 million), and 145.97 million BOBA ($29.83 million).

FTX bankruptcy latest

This asset movement is the latest development in the ongoing FTX bankruptcy process.

On Aug. 7, US District Judge Peter Castel approved a $12.7 billion settlement agreement between the Commodity Futures Trading Commission (CFTC) and the bankrupt crypto firms FTX and Alameda.

The settlement requires the firms to pay investors $8.7 billion in restitution and $4 billion in disgorgement. Notably, the agreement does not include any civil monetary penalties, ensuring that the entire $12.7 billion will be distributed to the exchange’s creditors.

While the settlement is a significant development, FTX is still pursuing its reorganization plans and recently provided an update for creditors. However, some creditors have expressed dissatisfaction, arguing that the proposed plan undervalues their claims. This disparity arises from the substantial increase in the value of most digital assets since FTX's bankruptcy.

Mentioned in this articleOluwapelumi AdejumoOluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.Liam ‘Akiba’ WrightAlso known as "Akiba," Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.

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