{"id":78551,"date":"2026-09-23T11:19:07","date_gmt":"2026-09-23T11:19:07","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/eth-price-nears-2800-as-ftx-estate-sends-75m-in-ether-to-wintermute\/"},"modified":"2026-09-23T11:19:07","modified_gmt":"2026-09-23T11:19:07","slug":"eth-price-nears-2800-as-ftx-estate-sends-75m-in-ether-to-wintermute","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/eth-price-nears-2800-as-ftx-estate-sends-75m-in-ether-to-wintermute\/","title":{"rendered":"ETH Price Nears $2,800 as FTX Estate Sends $75M in Ether to Wintermute"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Most recently, onchain trackers flagged a 23,639 ETH tranche worth $65.05 million being moved.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Ether trades near $2,750 on Sept. 23, up 15% across seven days.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The FTX Recovery Trust has paid creditors roughly $11 billion across five distribution rounds.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Decoding the Movements<\/h2>\n<p>Arriving in a big bunch, the FTX and Alameda Research liquidation team <a href=\"https:\/\/twitter.com\/EmberCN\/status\/2102555971218514304\" target=\"_blank\" rel=\"noopener noreferrer\">transferred 27,372 ETH<\/a>, worth roughly $75.32 million, to Wintermute across six wallets, according to onchain analyst EmberCN.<\/p>\n<p><\/p>\n<p>Other trackers caught pieces of the same operation, with lookonchain <a href=\"https:\/\/twitter.com\/lookonchain\/status\/2102567626014884002\" target=\"_blank\" rel=\"noopener noreferrer\">flagging a 23,639 ETH deposit<\/a> valued at $65.05 million. It has not been confirmed whether the tokens were sold, but what the transfer has established is intent and capacity.<\/p>\n<h2>Why Route It Through a Market Maker?<\/h2>\n<p>Wintermute is an over-the-counter (OTC) desk, and estates are known to use desks because they do not want to move price against themselves. Dumping $75 million of ether into open order books would print on every chart and invite front-running. Handing it to a market maker lets the position bleed out across days, in sizes the book absorbs.<\/p>\n<p>The trade-off is that the estate gives up some upside for execution certainty, and creditors have complained about exactly that trade before. Bitcoin.com News has previously reported on this, especially when FTX <a href=\"https:\/\/news.bitcoin.com\/ftx-nets-1-9b-in-solana-sale-at-64-per-sol-discount-price-draws-creditor-scrutiny\/\">netted $1.9 billion selling solana<\/a> at $64 per SOL, a discount that drew creditor scrutiny. Estate sales are structured for certainty, not for maximizing the last dollar.<\/p>\n<h2>Selling Into a Rebound<\/h2>\n<p>Ether is trading near $2,750 as of today, up 1% on the day and 15% across the week (while boasting a market cap north of $338 billion). Bitcoin\u2019s price, on the other hand, has run 14% over the same stretch. An estate that spent much of the year selling into weakness now has a materially better bid to sell into.<\/p>\n<p>That improved bid is showing up in demand elsewhere onchain as one over-the-counter whale <a href=\"https:\/\/twitter.com\/lookonchain\/status\/2102565978907574349\" target=\"_blank\" rel=\"noopener noreferrer\">accumulated 15,000 ETH<\/a> worth $41.26 million on the same day, lifting a position built since July to 52,000 ETH.<\/p>\n<h2>What It Means for Creditors<\/h2>\n<p>Since the whole FTX liquidation debacle a few years ago, the now defunct exchange\u2019s Recovery Trust has completed five distribution rounds totaling roughly $11 billion. The fourth paid out <a href=\"https:\/\/news.bitcoin.com\/ftx-sets-2-2b-distribution-as-creditor-recoveries-reach-up-to-120\/\">about $2.2 billion on March 31,<\/a> while the fifth one <a href=\"https:\/\/news.bitcoin.com\/ftx-plans-to-pay-creditors-900-million-as-fifth-distribution-starts-on-july-31\/\">released roughly $900 million on July 3<\/a>.<\/p>\n<p>The estate has been converting holdings steadily to feed that pipeline. In fact, Bitcoin.com News has tracked Alameda <a href=\"https:\/\/news.bitcoin.com\/ftxs-alameda-moves-16-million-sol-in-ongoing-creditor-repayment\/\">moving $16 million in solana<\/a> tied to repayments, wallets <a href=\"https:\/\/news.bitcoin.com\/nansen-ftx-and-alameda-research-wallets-shift-8-6m-in-crypto-assets-to-binance\/\">shifting $8.6 million to Binance<\/a>, and an earlier <a href=\"https:\/\/news.bitcoin.com\/5b-in-ftx-funds-are-hitting-wallets-will-crypto-markets-get-a-second-wind\/\">$5 billion hitting wallets<\/a>.<\/p>\n<p>Not every estate decision has aged well, though, with FTX selling Alameda\u2019s Cursor stake for just $200,000, a position <a href=\"https:\/\/news.bitcoin.com\/ftx-alameda-cursor-stake-spacex-60-billion\/\">now valued far higher<\/a>.<\/p>\n<p>The open question ahead is whether ether supply of this size keeps arriving while the market rallies because a single $75 million tranche is absorbable at current volumes. However, a pattern of such sales could become a potential ceiling. Interesting couple of weeks ahead!<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/crypto-news\/ftx-alameda-estate-75-million-ether-wintermute\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Most recently, onchain trackers flagged a 23,639 ETH tranche worth $65.05 million being moved. Ether trades near $2,750 on Sept. 23, up 15% across seven days. The FTX Recovery Trust has paid creditors roughly $11 billion across five distribution rounds. Decoding the Movements Arriving in a [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":78552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/78551"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=78551"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/78551\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/78552"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=78551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=78551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=78551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}