US Government Transfers IDR 537.6 Billion Crypto Assets To Other Wallets

Thousands of crypto assets were transferred to crypto wallets. (Photo; Doc. TheCurrencyAnalytic)

JAKARTA - The United States government recently transferred 33.6 million US dollars worth of crypto assets (approximately IDR 537.6 billion) from a wallet containing part of the funds confiscated from the FTX crypto exchange and its partner company, Alameda Research.

Based on information from The Block on Thursday, December 5, the transaction includes the transfer of 5,024 Ether (ETH), worth around US$18 million (Rp288 billion), which has been transferred to two unidentified addresses.

In addition to Ether, the US government has also transferred a large amount of other cryptocurrencies, including 13 million US dollars (Rp208 billion) in Binance USD (BUSD), 1.5 million US dollars (Rp24 billion) in Shiba Inu (SHIB) tokens, as well as various other tokens such as AERGO, POWR, AXS, YFI, WBTC, NMR, COMP, SRM, and RLC.

The transfer comes amid a positive trend in the crypto market, where the price of Ether has risen by about 0.3% in the last 24 hours, trading at a price of 3,643 US dollars (Rp58 million) per ETH, up significantly from 2,460 US dollars (Rp39.36 million) a month ago.

Ethereum's on-chain transaction volume record also set a record high in November 2024, reaching 183.74 billion US dollars (Rp2,939 trillion). According to a report from The Block Research, the spike is thought to be due to capital rotation in the market, with many investors switching from centralized exchanges (CEX) to activities on more decentralized Ethereum networks.

The transfer of crypto assets carried out by the US government is part of the asset management process confiscated from FTX, which was once one of the largest crypto exchanges before going bankrupt due to a scandal that shocked the public.