Breaking: Bankrupt FTX Exchange Begins Token Transfers
FTX and Fund Transfers The trading platform is still in the process of settling its creditors and these observed token transfers have cast a series of theories about what the core intention of the transfers might be. According to earlier reports, FTX has agreed to adopt the expertise of Mike Novogratz’s Galaxy Digital to handle the tokens still associated with the brand. advertisement One of the topmost schools of thought is whether or not these ongoing transfers are to an account controlled by Galaxy Digital or its associated wallets respectively. According to a screenshot of the transfer requests flying around on social media, the firm has moved tokens ranging from Chainlink (LINK) to MATH tokens and its native token FTT all of which are resident on the Wormhole Bridge. Some of the FTX token transfers have also transverse other chains or networks but with Wormhole posing as the dominant channel to move the funds. Considering the history of ...