The U.S. government has moved about $33.6 million worth of cryptocurrency from its wallet — which held part of the funds seized from the collapsed crypto exchange FTX and trading firm Alameda — to two unidentified addresses.
On Tuesday, the government made multiple transactions that included transfers of 5,024 ether, or about $18 million, to two addresses starting with “0x9cd” and “0x9ac,” according to data from Arkham Intelligence.
The government wallets, labeled by Arkham as “FTX Alameda Seized Funds,” also moved $13 million in BUSD, $1.5 million in SHIB and a variety of other tokens to the two addresses. These include AERGO, POWR, AXS, YFI, WBTC, NMR, COMP, SRM, and RLC.
The transfers came in the wake of a market-wide crypto rally. Ether edged up 0.3% in the past 24 hours to trade at $3,643, up from $2,460 a month ago.
Notably, Ethereum's onchain volume in November reached $183.74 billion, marking its highest monthly volume recorded year-to-date.
“This increase is likely driven by capital rotation, as market participants move down the risk curve, reallocating funds from CEXs to onchain activities,” The Block Research wrote in a newsletter this week.
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