On March 15th, Arkham Intelligence analyzed data showing that after USDC was unanchored, an address associated with the Alameda Research liquidator sent $100 million in stablecoins to crypto trading companies Cumberland and GSR Markets. Over $47 million in USDC was sent to GSR Markets on March 13, and another $50.3 million was sent to Cumberland in two transactions.
Additionally, three other addresses previously associated with FTX and Alameda also sent $188.58 million to Coinbase, Kraken and Binance on Tuesday, though it is unclear whether the capital was consolidated pursuant to bankruptcy proceedings or used to generate yield.