FTX and Alameda Send $75 Million in Ether to Wintermute
Onchain data points to one of the larger estate movements since the FTX bankruptcy case began. It is unclear whether Wintermute has already sold the ether or is holding it.
Key Takeaways
- Wallets linked to FTX and Alameda Research moved about $75 million in ether to market maker Wintermute.
- PeckShield reported 23,639 ether from an Alameda and FTX bankruptcy wallet; EmberCN saw six wallets send a combined 27,372 ether.
- Onchain data does not show whether the ether was sold or why the transfer happened.
Wallets linked to FTX and Alameda Research moved about $75 million (€65.4 million) in ether to crypto market maker Wintermute, according to onchain data. It was one of the larger moves out of FTX's bankrupt estate in recent months, but the data does not show whether the ether has already been sold or why the transfer happened.
What the Wallets Moved
PeckShieldAlert reported a transfer of 23,639 ether, worth about $65 million (€56.7 million), from an address labeled as belonging to Alameda Research and the FTX bankruptcy estate. Onchain analyst EmberCN said that six wallets sent a combined 27,372 ether to Wintermute. According to EmberCN, this happened through multiple transactions, while PeckShield mainly flagged the largest single transfer.
The biggest transfer landed in a wallet labeled as Wintermute on Etherscan. Wintermute did not immediately respond to a request for confirmation. The FTX Recovery Trust also did not publicly respond to the moves.
Why This Stands Out
FTX and Alameda have often moved digital assets to exchanges or market participants over the past few years during the estate wind-down. In March, FTX also reported a $2.2 billion (€1.9 billion) payout, the fourth distribution under the Chapter 11 plan. So this recent transfer fits into a longer process of gradually winding down the estate.
A transfer to a market maker or OTC desk does not automatically mean the coins immediately end up on a public order book. Wintermute could also hold the ether as inventory, hedge the position, or spread out a sale over time.
Why It Matters for European Readers
For European crypto followers, the main point is that Wintermute plays a big role in the market structure around ether and other tokens. The company is also expanding into traditional markets, and Wintermute USA received a broker-dealer registration from the SEC and FINRA in August 2026. That makes moves like this especially interesting for anyone watching the link between crypto, OTC trading, and institutional liquidity.
