FTX Linked Wallets Move $75 Million In Ether To Market Maker Wintermute

Wallets connected to the FTX bankruptcy estate and its trading arm Alameda Research sent roughly 27,373 ether, valued near $75 million, to crypto market maker Wintermute, according to two separate onchain analysts tracking the movement.

Analysts Report Slightly Different Figures

A single transfer of 23,639 ether, worth close to $65 million, moving from an address tied to Alameda and the FTX estate into a Wintermute linked wallet early Wednesday. Six separate wallets combined to send a total of 27,372 ether to Wintermute, tracing the movement through blockchain intelligence platform Arkham.

What The Transfer Could Mean

Moving large holdings to a market maker rather than directly to an exchange often signals that a holder plans to sell or hedge a position without immediately affecting public order books. Still, nothing in the available blockchain data confirms that Wintermute has sold any of the ether, or that the transfer relates to upcoming payments to FTX creditors. Wintermute has not issued any confirmation or additional details, and the FTX Recovery Trust has stayed silent on the matter as well.

Part Of A Broader Pattern

FTX and Alameda-associated wallets have shifted digital assets to exchanges multiple times throughout the estate’s lengthy bankruptcy wind down process. This latest movement comes amid the trust’s continuing effort to repay creditors, following a $2.2 billion distribution completed in March as the fourth payout under its Chapter 11 reorganization plan.

A transfer of this kind doesn’t guarantee the ether will hit public trading markets right away. Wintermute may instead hold the funds as working inventory, use them to hedge existing exposure, or gradually sell the position over an extended period.