SBF Cashes Out $684K in Crypto Despite Court Restrictions

• Sam Bankman-Fried (SBF), the founder and former CEO of bankrupt cryptocurrency exchange FTX, has reportedly cashed out $684,000 worth of crypto assets despite court restrictions.
• On-chain DeFi analyst BowTiedIguana took to Twitter to unravel the location where SBF transferred the funds.
• Following the Money Trail, SBF sent all the ether in his public wallet to a new wallet address, and then transferred $367,000 worth of cryptocurrencies from 32 addresses owned by his trading firm Alameda Research to the same wallet.

Sam Bankman-Fried (SBF), the founder and former CEO of bankrupt cryptocurrency exchange FTX, has made a move that has left many in the crypto space in shock. Despite court restrictions on spending above $1,000, SBF has reportedly cashed out $684,000 worth of crypto assets.

The news created a stir on Twitter, with on-chain DeFi analyst BowTiedIguana trying to unravel the location where SBF transferred the funds. After careful inspection, BowTiedIguana discovered that SBF had sent all the ether (ETH) in his public wallet to a new wallet address – 0x7386df2Cf7e9776bCE0708072c27d6a7135D51CB.

Following the Money Trail, BowTiedIguana found out that some hours later, $367,000 worth of cryptocurrencies were transferred from 32 addresses owned by SBF’s trading firm Alameda Research to the same wallet. The assets were then further transferred to the Ren Protocol (REN), a decentralized finance (DeFi) platform for trading, and then to a non-KYC platform.

The news has left many in the crypto space questioning the actions of SBF, as it appears that he may have violated the court restrictions. While the full extent of SBF’s activities remain unclear, it is clear that the FTX boss has managed to cash out a substantial amount of crypto assets, despite court restrictions.