According to According to Arkham Intelligence, the U.S. government seized more than $300 million from three Alameda Research accounts on Binance and BinanceUS. The seizure is part of a larger confiscation action involving more than $700 million in assets from FTX and Alameda Research.
Details of seized funds
The seized funds were classified by the Arkham Intelligence platform as a ‘United States Government’ entity. Details of seized assets are as follows:
- $119.3 million USDT
- $102.38 million in BTC and WBTC
- BNB $28.35 million
- $26.26 million in ETH and WETH
- 13.62 million USD (BUSD)
Context and Background
The seizure occurred in January 2023 as part of a broader effort to recover assets linked to the controversial collapse of FTX and its subsidiary Alameda Research. The total forfeiture action includes more than $700 million in assets, indicating the scale of the financial discrepancies and legal ramifications surrounding these companies.
Implications for the cryptocurrency market
The U.S. government’s seizure highlights increasing regulatory scrutiny of cryptocurrency exchanges and related entities. It also highlights potential risks and challenges that may arise in the cryptocurrency market and impact both investors and companies.
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