77.77 Billion SHIB Transferred by FTX Exchange, Here’s SHIB Price Reaction

Massive transfer of Shiba Inu meme coins from battered FTX platform reported

The bankrupt FTX exchange continues to move the remains of its assets to convert them into fiat and repay the debt to its creditors.

This time, it shoveled nearly 80 billion of Shiba Inu (SHIB), 1,643 Ethereum (ETH), as well as millions of other cryptocurrencies, according to a recent tweet published by blockchain sleuth @lookonchain. In the meantime, the Shiba Inu price has shown a small rise over the past 24 hours. But over the past two days, the price has increased by almost 3%.

Lookonchain has reported that several hours ago, the FTX exchange and the trading firm Alameda Research that basically caused the bankruptcy transferred nearly a dozen of hefty chunks of various cryptocurrencies. This included an impressive chunk of Shiba Inu (77.77 billion SHIB) and Ethereum (1,643 ETH), worth $652,000 and $3.43 million each. The transfer also carried millions of IMX, GMT, UNI, BAL, LOOKS and less than a million WOO. All of the crypto that was transferred is evaluated at $22 million approximately, according to the source.

As of now, the administrators of FTX that took over from SBF, who has been arrested and sentenced for defrauding investors, have managed to recover approximately $7 billion worth of assets, which includes $3.4 billion in cryptocurrencies.

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