The FTX liquidation team transferred 27,372 ETH, with a total value of about 75.32 million USD.

Written by: Mah, Foresight News

On September 23, on-chain analyst Ember(@EmberCN) issued a monitoring update: the asset liquidation team of FTX / Alameda Research transferred 27,372 ETH (approximately 75.32 million USD) to Wintermute through six wallets.

Generally, Wintermute's common practice is to undertake OTC transactions or to hedge through derivatives before slowly distributing the spot assets to multiple exchanges.

Years have passed since the FTX incident, and its compensation process has been tumultuous. To this day, the total remaining assets in its liquidation trust have become a topic of concern for some market investors.

Cryptocurrency Assets Remaining 400 Million USD

To discuss "how much FTX has left," one must first separate the two accounts.

One is the FTX Recovery Trust under the Delaware Bankruptcy Court. Established after the reorganization plan effective date of January 3, 2025, it is responsible for monetization, litigation recovery, and scheduled distribution to creditors. The addresses frequently marked on-chain as FTX / Alameda liquidation addresses mostly belong to this side.

The other is the wallet seized by the U.S. Department of Justice. After SBF was convicted, the government held some seized assets, which would either be returned to the trust or disposed of separately depending on the procedure. In June 2026, Arkham recorded that the U.S. government transferred approximately 984,000 USD of seized FTX / Alameda assets, of which at least 768,000 USD entered Coinbase Prime. This scale is much smaller than the trust's own asset distribution.

The latest complete balance sheet of the trust available for verification as of 2026 is the Q1 report, with total assets amounting to 6.6 billion USD as of March 31.

The digital asset column has decreased from 588 million USD in December 2025 to 453 million USD in March this year. Today's transferred 75.32 million USD in ETH accounts for nearly 1/6 of the remaining cryptocurrency assets.

Liquidation Rhythm

FTX filed for bankruptcy on November 11, 2022. In September 2023, the debtors submitted a motion requesting the sale, hedging, and pledging of some digital assets according to investment guidelines. In September 2023, the bankruptcy estate designated Galaxy Asset Management to assist in asset disposal. Later, Galaxy's case materials indicated that locking SOL was broken down into institutional shares for auction, converting nearly 2 billion USD in cash for the estate without impacting the public market. In March 2024, The Block reported on the intention to sell around 41 million locked SOL, with a nominal value of approximately 7.5 billion USD; the final transaction structure and unlocking rhythm will follow the locking period rather than a one-time sale.

After the effective date of the plan on January 3, 2025, selling coins shifted from "raising USD for reorganization" to "allocating cash for distribution." The annual report for 2025 (as of December 31) indicated that the recovery structure after the effective date included 638 million USD in government receivables, 334 million USD in venture capital, 276 million USD in digital assets, 294 million USD in cash interest, and 124 million USD in net recoveries from unconsolidated subsidiaries. The digital assets were still valued at 588 million USD at the end of 2025 but dropped to 453 million USD by the end of March 2026—each quarter sees a decline, but the decrease has shifted from the billions range to tens of millions or even one to two hundred million USD.

The distribution rhythm consists of five rounds:

• February 18, 2025: First round, facilitating creditor priority, approximately 1.2 billion USD
• May 30, 2025: Second round, over 5 billion USD
• September 30, 2025: Third round, approximately 1.6 billion USD
• March 31, 2026: Fourth round, approximately 2.2 billion USD
• July 31, 2026: Fifth round, approximately 900 million USD

After five rounds, the total disclosed external return is around 10 billion to 11 billion USD. The fifth round is the smallest. How much can be distributed later depends on the settlement of disputed claims, the completion rate of KYC, and how much cash can still be recovered from venture capital and litigation.

According to a currently tracked FTX address by Arkham, its remaining altcoin varieties have decreased, and some assets have gained value amid recent market recovery.

The significant sell pressure that once worried the cryptocurrency market has already been left behind.