According to Arkham IntelligenceAccording to Arkham Intelligence, the US government has seized more than $300 million from three Alameda Research accounts on Binance and BinanceUS. This seizure is part of a larger forfeiture involving more than $700 million in assets of FTX and Alameda Research.
Details of the funds seized
The seized funds are categorized under the entity “US Government” on Arkham Intelligence’s platform. The distribution of the seized assets is as follows:
- $119.3 million in USDT
- $102.38 million in BTC and WBTC
- $28.35 million in BNB
- $26.26 million in ETH and WETH
- $13.62 million in BUSD
Context and background
The seizure took place in January 2023 as part of a broader effort to recover assets linked to the controversial collapse of FTX and its subsidiary, Alameda Research. The total forfeiture involves more than $700 million in assets, indicating the extent of the financial discrepancies and legal fallout surrounding these entities.
Implications for the crypto market
This seizure by the US government underlines the regulators’ increasing scrutiny of cryptocurrency exchanges and related entities. It also highlights the potential risks and challenges that could arise in the crypto market, impacting both investors and businesses.
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