Embattled crypto exchange, FTX, has transferred another batch of crypto assets, including Chainlink’s LINK and Polygon’s MATIC, worth millions to Coinbase Inc. as the company’s founder, Sam Bankman-Fried, takes the stand in court.
The move took place Thursday afternoon, with blockchain data confirming that approximately $2.6 million in LINK and $1.3 million in Adventure Gold (AGLD) were deposited to Coinbase from FTX-related crypto wallets.
An additional $4.8 million in MATIC was transferred from an FTX wallet to an intermediary address, which then moved $1.8 million worth of the tokens to Coinbase. Earlier in the day, FTX had also moved approximately $19 million in other cryptos, including Solana (SOL) and Ether (ETH), to various exchanges.
These transactions may indicate an intention to sell tokens. Last month, a U.S. bankruptcy court granted FTX permission to sell, stake, and hedge its $3.4 billion digital asset stash after the company enlisted Galaxy Digital’s assistance to manage the token holdings.
The transfers occurred as Sam Bankman-Fried, the founder of FTX and its sister trading firm Alameda Research, prepared to testify at his criminal trial on Thursday afternoon.
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