The FTX/Alameda clearing team transferred $75.32 million ETH to Wintermute, the trust crypto assets still have $453 million, the fifth round is allocated to the minimum round, and the market pressure has been basically digested.
By Mach, Foresight News
On September 23, on-chain analyst @ EmberCN issued a monitoring: FTX/Alameda Research's asset liquidation team transferred 27,372 ETH (about $75.32 million) into Wintermute through six wallets.
In general, Wintermute is used to take over OTC or to slowly distribute spot to multiple exchanges after shorting hedges through derivatives.
Over the years since the FTX incident, its compensation process has also been turbulent. To this day, how many assets remain in its liquidation trust has become a topic of concern for some investors in the market.
$400m left in crypto assets
To discuss "how much FTX is left", you must first cut two accounts.
The first is the FTX Recovery Trust under the Delaware Bankruptcy Court. It was established after the effective date of the reorganization plan on January 3, 2025, and is responsible for liquidation, litigation recovery, and distribution to creditors as planned. The chain is often marked as FTX/Alameda clearing address, most of them belong to this side.
The other is the seizure of the wallet by the U.S. Department of Justice. Following the conviction of SBF, the government held part of the seized assets, which were either transferred back to the trust or disposed of separately. In June 2026, Arkham recorded that the U.S. government transferred out about $984,000 of the seized FTX/Alameda assets, of which at least $768,000 entered Coinbase Prime. The scale is much smaller than the trust's own shipments.
The latest complete balance sheet of its Trust External Energy Verification is still the first quarter of 2026, with total assets remaining of $6.6 billion as of March 31.
The digital asset column has dropped from $588 million in December 2025 to $453 million in March this year. Today's transfer of $75.32 million in ETH accounts for nearly one-sixth of the remaining crypto assets.
Liquidation Rhythm
FTX filed for bankruptcy on November 11, 2022. In September 2023, the debtor filed a motion to sell, hedge and pledge some digital assets in accordance with the investment guidelines. In September 2023, the bankruptcy estate appointed Galaxy Asset Management to assist in the disposal. Galaxy later wrote in the case file that the locked Sol was broken up into institutional share auctions to redeem nearly $2 billion in cash for property without impacting the open market. In March 2024, The Block reported an intention to sell approximately 41 million locked Sols with a nominal value of approximately $7.5 billion; the final deal structure and unlocking rhythm were executed on a lock-up period, rather than a one-time sale.
After the effective date of the plan, January 3, 2025, the sale of coins changed from “reserve for restructuring USD” to “cash replenishment for distribution”. The effective date structure after the effective date given in the 2025 annual report (as of December 31) is: $638 million in government receivables, $334 million in venture capital, $276 million in digital assets, $294 million in cash interest, and $124 million in net repatriation of unconsolidated subsidiaries. Digital assets are still valued at $588 million at the end of 2025, falling to $453 million by the end of March 2026 - cutting every quarter, except that the size of a single quarter has fallen from billions of dollars to tens of millions to $120 million.
Assign rhythm for 5 rounds:
February 18, 2025: First round, convenience creditor priority, about $1.2 billion
May 30, 2025: Round 2, over $5 billion
September 30, 2025: Third round, ~ $1.6 billion
March 31, 2026: 4th round, ~ $2.2 billion
July 31, 2026: 5th round, ~ $900m
After five rounds, the cumulative return of external disclosures is about $10 billion to $11 billion. The fifth round is already the smallest. The amount of money that can be sent depends on the liquidation of disputed claims, the completion rate of KYC, and how much cash can be exchanged for venture capital and litigation.
According to an FTX address tracked by Arkham, the number of remaining altcoins has decreased, and some assets have gained some value in the recent market recovery.
The biggest loser once feared by the crypto market has been left behind.