US Converts Seized Alameda Research Tokens to Ethereum
Former Alameda CEO Caroline Ellison recently received a reduced sentence of 2 years after cooperating with authorities.
For the first time in nearly two years, the U.S. government’s wallet holding seized assets from Sam Bankman-Fried’s collapsed hedge fund Alameda Research has shown activity.
According to onchain data reviewed by Arkham Research, the government sold over 82,000 ANT tokens in two transactions through AragonDAO’s redemption process, converting them into Ethereum (ETH), the second-largest crypto.
Onchain data shows the transactions netted approximately $1.07 million in ETH, with the U.S. government wallet now containing around $974,000 in various cryptos.
The liquidation move by the government hints at the possibility of further activity to recoup value from the seized crypto assets, as steps are taken to convert holdings into more liquid assets like ETH.
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