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HomeCrypto NewsSBF Denies Moving $1.5M In Crypto Assets From Alameda Wallets

SBF Denies Moving $1.5M In Crypto Assets From Alameda Wallets

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SBF says he has no involvement in the questionable transactions.

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Sam Bankman-Fried has denied moving funds from Alameda-associated wallets, per tweets from the disgraced FTX founder on Friday.

It comes after several on-chain analytics platforms Wednesday observed questionable transactions from Alameda-associated wallets just days after a federal judge granted the crypto founder bail. The transactions involved a series of token swaps and transfers that ultimately saw about $1.5 million in crypto assets find their way to central exchanges. Unsurprisingly, it led to speculation that SBF was trying to get his hands on whatever assets the trading firm had left.

SBF, in a couple of tweets on Friday, denies these claims. The FTX founder claims he has no access to the addresses in question.

“None of these are me,” the 30-year-old said. “I’m not and couldn’t be moving any of those funds; I don’t have access to them anymore.”

The erstwhile crypto billionaire instead alleges that “legit legs of FTX” with access to the wallets are responsible for the questionable transactions. It bears mentioning that, for many, this is difficult to believe, considering the choice of exchanges and the lack of disclosure, as most FTX arms and subsidiaries are currently involved in bankruptcy proceedings. Furthermore, the disgraced crypto founder offers to advise regulators on the matter, much to the chagrin of the crypto Twitter community.

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It is not surprising that SBF is not attracting any sympathy, as he continued to claim that everything was fine at his crypto exchange. However, the stunning collapse of FTX and mounting evidence have proved otherwise.

Recall that SBF was arrested in the Bahamas at the request of the US earlier in the month for 8 counts of fraud. The disgraced FTX founder is now under house arrest at his parents’ California home after a federal judge granted him bail on a controversial $250 million bond following extradition to the US.

SBF is scheduled to enter a plea on January 3. According to a Wall Street Journal report citing persons familiar with the case, he is likely to plead not guilty. Bloomberg explains that the erstwhile crypto billionaire will be able to change his plea in the future and highlights that pleading not guilty will allow him and his lawyers to evaluate the evidence that prosecutors have gathered against him during discovery.

It is worth noting that close associates Caroline Ellison and Gary Wang have turned state’s evidence.

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Author

Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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