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The FTX founder reportedly cashed out $684,000 after being released on bail




FTX founder Sam Bankman-Fried is said to be cashing out large sums of cryptocurrency shortly after being released on bail, on-chain data suggests.

The SBF disbursed $684,000 in cryptocurrency to an exchange in the Seychelles while it was under house arrest, according to an on-chain investigation by DeFi guru BowTiedIguana.

Decentralized finance (DeFi) analyst BowTiedIguana took to Twitter on Dec 29 to Transfer in a series of opaque wallet transactions allegedly linked to the SBF, suggesting the former FTX CEO may have breached the terms of the issuance in order to Don’t spend more than $1,000 without permission from the court.


According to BowTiedIguana analysis, SBF (0xD5758) public address on December 28 sender all remaining ether (ETH) to a newly created address (0x7386d). BowTiedIguana noted that SBF acquired the title originally owned by the creator of Sushiswap from Chef Nomi in August 2020.

Within hours, 0x7386d Receive Transfers totaling $367,000 from 32 addresses identified as Alameda Research portfolios, with an additional $322,000 coming from other portfolios. All funds were sent to a central crypto exchange in the Seychelles and to the RenBridge crypto bridge, according to the DeFi analyst.

Related: SBF met with top Biden advisers two months before FTX collapse: report

0x7386d sender A total of 519.5 ether (ETH), or about $629,000, to 0x64e9B, which is also Receive Funds from titles labeled Alameda Research. BowTiedIguana also identified five separate transactions of less than 51 ETH ($61,000) that were used to move funds to newly created wallets and then “onward to an exchange based in Seychelles.”


In addition, the wallet associated with SBF 0x64e9B sender Three strips of 200,000 ropes (USDT) to the FixedFloat exchange.

This article is under development and will be updated.