Alameda’s Crypto Wallets Are Quietly Swapping Funds for Bitcoin (BTC): On-Chain Data

Alameda Research’s Ethereum (ETH) addresses are quietly swapping altcoins for Bitcoin (BTC), according to on-chain sleuths. The pseudonymous on-chain researcher known as Ergo says on Twitter that Alameda addresses are “digging around in the sofa for spare change” and swapping ERC-20 tokens for ETH and the top stablecoin Tether (USDT). The ETH and USDT are then sent through “instant exchangers,” according to Ergo. Fellow pseudonymous on-chain sleuth ZachXBT says the funds are then being swapped for Bitcoin. The funds are being swapped for BTC bc1q67r2dc46ve66pe2qr9smaz5ktzefehugky5sv6bc1qk4mnz4qkh9vfcm95z6ww9czhzjsknjr8s457mgbc1qwx3herf245w6k9ljjfgdsngtvjsp3qs6znp8ddbc1q7p22k0ly0pmy04ermzu76uyylveehu9cusrcnp pic.twitter.com/ueYLjQOalZ — ZachXBT (@zachxbt) December 28, 2022 Other Twitter users speculated that Alameda’s liquidators were