U.S. Government Sells Tokens from Alameda Research

The U.S. government has sold off tokens seized from Sam Bankman-Fried’s defunct hedge fund Alameda Research, according to Arkham Research. This marks the first movement of funds in nearly two years from the wallet that holds approximately $974,000 worth of cryptocurrencies.

Onchain data indicates that government officials offloaded over 82,000 ANT tokens, which were confiscated from the firm, utilizing the AragonDAO ANT token redemption address. ANT serves as Aragon’s governance token.

In November 2023, the Swiss non-profit Aragon Association voted to dissolve itself, selling 86,343 ETH (equivalent to $155 million at that time) in return for ANT tokens. Users have a deadline until November 2, 2024, to exchange their ANT tokens.

After the redemption process, all ANT tokens will be burned since “from this moment forward, there is no purpose in continuing to hold ANT.”

The process commenced when an address beginning with 0xb0692 funded the U.S. government’s wallet, designated for segregating funds obtained from Alameda. To date, the U.S. government has received 209.199 ETH worth $556,000 from AragonDAO.

Prior to this transaction, the government’s wallet received 0.003 ETH ($7.03) from Coinbase, likely intended for gas fees.