Welcome to Extreme Investor Network, your go-to source for all things crypto, blockchain, and cryptocurrency. Today, we bring you exclusive information regarding a recent development in the crypto world that has sent shockwaves through the industry.
According to Arkham Intelligence, the US Government has seized over $300 million from three Alameda Research accounts on Binance and BinanceUS. This seizure is part of a larger forfeiture action involving over $700 million of assets from FTX and Alameda Research.
Details of the Seized Funds
The seized funds have been categorized under the ‘US Government’ entity on Arkham Intelligence’s platform. The breakdown of the seized assets is as follows:
- $119.3 million in USDT
- $102.38 million in BTC and WBTC
- $28.35 million in BNB
- $26.26 million in ETH and WETH
- $13.62 million in 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 affiliate, Alameda Research. The total forfeiture action involves over $700 million in assets, indicating the scale of the financial discrepancies and legal ramifications surrounding these entities.
Implications for the Crypto Market
This seizure by the US Government underscores the increasing regulatory scrutiny on cryptocurrency exchanges and associated entities. It also highlights the potential risks and challenges that can arise in the crypto market, affecting both investors and companies.
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