Expert verified

5 min read

Alameda Research Withdrew $204M From FTX US Before Filing For Bankruptcy

Published date:

February 2, 2026

Our Editorial Standards:

Cryptocurrencies can be volatile and high risk. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn more about our Editorial Process and Risk Warning.

Arkham Intelligence said, "Arkham analysed flows from FTX US in the final few days before the collapse, finding that Alameda withdrew the most funds, at $204M."

Blockchain analytics firm Arkham Intelligence reported Alameda Research pulled out crypto assets worth $204M from FTX US before filing for Chapter 11 bankruptcy on November 11.

Arkham Intelligence’s tweets claimed that Alameda used eight different wallet addresses to carry out the withdrawals. One of these wallets was used by Alameda for OTC Trading and is still engaged in asset transfers.

Arkham analysed flows from FTX US in the final few days before the collapse, finding that Alameda withdrew the most funds, at $204M.

Below is a diagram of withdrawals to Arkham-identified entities from FTX US.

n.b. this thread regards FTX US assets only, not FTX International. pic.twitter.com/QFPVlVIWhO
— Arkham | Crypto Intelligence (@ArkhamIntel) November 25, 2022

Arkham stated that a significant fraction of the funds consisted of USD-backed stablecoins. These included USD Coin (USDC), Tether (USDT), Binance USD (BUSD), and TrueUSD (TUSD).

Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox

Alameda Research also withdrew $49.3M in Ethereum (ETH). The firm transferred a large portion of $ETH to FTX while sending the rest to an active trading wallet.

The remaining $38.06M was withdrawn in Bitcoin (BTC). Alameda first sent Wrapped Bitcoin (wBTC) to its Merchant wallet before bridging the tokens to the Bitcoin Blockchain. Arkham noted that wBTC experienced a decline in its value against Bitcoin following Alameda’s downfall, adding,

“With the collapse of Alameda Research, one of the biggest market makers for wBTC is no longer servicing the peg.”

Finally, of the $204M, $152M was sent to Binance and FTX, with $38M transferred to the BTC Blockchain. The remaining $13.87M was deposited to 0xa120, a trading wallet.

How we reviewed this article

All Bitcompare articles go through a rigorous review process before publication. Learn more about our Editorial Process and Risk Warning.

Ayush Pande

Written by:

Ayush Pande

Writer

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

About the Author

Radica Maneva

Reviewed by:

Radica Maneva

Senior Editor

Radica is a Senior Editor at Bitcompare. She has worked for more than a decade at leading publications as an Editor across various industries, including crypto and finance.

Bitcompare is a trading name of Blue Venture Studios Pty Ltd.

Advertiser disclosure: Bitcompare is a comparison engine that relies on advertising for funding. The business opportunities that can be found on this site are offered by companies with which Bitcompare has made deals. This relationship may affect the way and where products appear on the site, such as in what order they are listed in categories. Information about products may also be placed based on other factors, such as the ranking algorithms on our website. Bitcompare does not look at or list all companies or products on the market.
‍
Editorial disclosure: The editorial content on Bitcompare is not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. The opinions expressed here are the author’s alone. Additionally, the opinions expressed by the commenters do not necessarily reflect those of Bitcompare or its staff. When you leave a comment on this site, it will not show up until a Bitcompare administrator approves it.

Warning: The price of digital assets can be volatile. The value of your investment can go down or up, and you may not get back the amount invested. You are the only one who is responsible for the money you invest, and Bitcompare is not responsible for any losses you might have. Any APR shown is a rough estimate of how much cryptocurrency you will earn in rewards over the time period you choose. It does not display the actual or predicted returns or yields in any fiat currency. The APR is adjusted daily, and the estimated rewards may differ from the actual rewards generated. The information on this page is not meant to be a sign from Bitcompare that the information is correct or reliable. Before making any investment, you should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult with an independent financial advisor. Links to third-party sites are not under the control of Bitcompare, and we are not responsible for the reliability or accuracy of such sites or their contents. For more information, see the Terms of Service for Bitcompare and our Risk Warning.