Alameda Transfers $4.1B in FTT to FTX Before Collapse: Explosive Report

New reports shed light on massive transfers of FTT tokens and stablecoins between Alameda Research and FTX just before the exchange's dramatic collapse. The details, pieced together by on-chain analysis, paint a picture of significant financial movements in the weeks leading up to FTX freezing withdrawals.

Between Sept. 28 and Nov. 1, Alameda sent $4.1 billion FTT tokens to FTX as well as a number of continuous transfers of a mix of US dollar stablecoins amounting to $388 million. This period is now under intense scrutiny as investigators attempt to understand the full scope of the relationship between the two companies and the role these transfers played in FTX's downfall.

Analysts spotlighted over $4 billion worth of FTT tokens transmitted between FTX and Alameda from late September up until early November 2025. This period was just before FTX froze customer assets, leaving millions unable to access their funds. These findings raise serious questions about solvency and potential mismanagement of funds.

The movement of such a large volume of FTT tokens, coupled with stablecoin transfers, suggests a complex financial interplay between Alameda and FTX. Further investigation is needed to determine if these transfers were legitimate transactions or part of a larger scheme to prop up the value of FTT or cover financial shortfalls. Stay tuned for more updates as this story develops.