FTX, Alameda-linked wallets send $75 million in ether to Wintermute, onchain data shows

Wallets associated with the FTX bankruptcy estate and Alameda Research have transferred up to 27,373 Ether, valued at approximately $75 million, to cryptocurrency algorithmic market maker Wintermute, according to on-chain tracking data. Analytics firms PeckShield and EmberCN flagged the transactions, with PeckShield noting a single large transfer of 23,639 ETH worth roughly $65 million, while EmberCN identified movements across six connected wallets. Transfers to institutional market makers or over-the-counter (OTC) desks typically indicate an entity's intention to liquidate or hedge large positions off public exchange books to minimize slippage. However, on-chain data has not yet confirmed whether Wintermute has executed sales or if the transfer is explicitly earmarked for creditor repayments. The transfers coincide with the ongoing wind-down operations of the FTX Recovery Trust, which planned a $2.2 billion creditor distribution in March as part of its Chapter 11 reorganization.