Over 50% of the assets exchanged after November 6 were in US pegged stablecoins, according to information from blockchain company Arkham Intelligence.

Prior to declaring bankruptcy, Alameda Research withdrew more than $200 million from FTX.US, according to research by blockchain company Arkham Intelligence, which was made public on November 25.
In a Twitter thread, Arkham disclosed that Alameda Research, FTX’s sister company, had taken $204 million in a variety of crypto assets, the majority of which were stablecoins, from eight different FTX US addresses in the final days before the exchange’s collapse.
$116 million, or 57.1% of the withdrawn money, were held in stablecoins linked to the US dollar, such as USDT, USDC, BUSD, and TUSD. Additionally, according to Arkham’s investigation, 24.2% of the monies — $49.49 million — were in Ether (ETH), while 18.7% — $38.06 million — were in wrapped Bitcoin (wBTC).
“The withdrawn wBTC was sent to the Alameda WBTC Merchant wallet, and then bridged in its entirety to the BTC Blockchain.”, said Arkham, adding that of the $204 million moved, $142.4 million, or 69%, was sent to wallets managed by FTX International, “suggesting that Alameda may have been operating to bridge between the two entities.”

$35.52 million of the transferred Ether went to FTX, while $13.87 million went to a sizable active trading wallet. The firm stated that it’s “unknown whether the almost 14M in ETH was sent to 0xa20 as part of a trade, or as an internal fund transfer within Alameda.” Their rival cryptocurrency exchange Binance, also received an additional $10.4 million.
John Ray III, the new CEO of FTX, highlighted the “complete failure of corporate controls” and a lack of reliable financial information in the company’s initial bankruptcy filing to the United States Bankruptcy Court for the District of Delaware, calling the situation the worst he had ever seen in the corporate world.
On November 11, about 130 FTX Group companies, including FTX Trading, FTX US, operating under West Realm Shires Services, and Alameda Research, declared bankruptcy in the United States as a result of a “liquidity crunch” brought on by a sell-off of the FTX Token following a series of tweets.