FTX bankruptcy estate consolidates Arbitrum airdrop tokens into single wallet

CoinDesk Analysis Team CoinDesk

A wallet controlled by the FTX bankruptcy estate has received several tranches of the Arbitrum (ARB) airdrop from wallets linked to Alameda Research, on-chain data shows.

According to Arbiscan, a block explorer for layer 2 blockchain Arbitrum, the wallet now holds 33,125 ARB tokens worth around $42,000 at press time.

The wallet also holds $10 million worth of USD Coin (USDC), almost $3 million of wrapped BTC (WBTC) and $4 million of Ether (ETH), all of which have been consolidated from the same Alameda-linked wallets since Nov. 13, two days after FTX filed for bankruptcy.

All held tokens are on the Arbitrum blockchain, a network on which Alameda has been active since 2021 by providing liquidity to protocols like Sushi and Stargate Finance.

After airdropping its early users with 1.275 billion tokens, Arbitrum has a market capitalization of $1.6 billion as the token trades at $1.27, according to CoinMarketCap.

The FTX bankruptcy estate has been attempting to consolidate various tokens and investments in the past few weeks, it filed a motion on Wednesday that will see it recover $460 million, including $404 million in cash, from little-known Bahamian hedge fund Modulo Capital.

Author

CoinDesk Analysis Team

CoinDesk

CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).

Sberbank issues Russia's first corporate loan backed by Bitcoin

Russia's largest bank Sberbank launched the country's first Bitcoin-backed corporate loan to miner Intelion Data. The pilot deal uses cryptocurrency as collateral through Sberbank's proprietary Rutoken custody solution.

Bitcoin recovers to $87,000 as retail optimism offsets steady ETF outflows

Bitcoin (BTC) trades above $88,000 at press time on Tuesday, following a rejection at $90,000 the previous day. Institutional support remains mixed amid steady outflow from US spot BTC Exchange Traded Funds (ETFs) and Strategy Inc.’s acquisition of 1,229 BTC last week.