The US authorities has swapped its ANT tokens for extra liquid Ethereum forward of a deliberate crypto phaseout.
The federal government-controlled crypto pockets that holds almost $974,000 price of digital belongings has, for the primary time in virtually 24 months, been activated, in line with Arkham Intelligence.
That is lower than every week earlier than a scheduled token phaseout is to happen on 2nd November. Early final yr, AragonDAO resolved to dissolve the group and trade ANT for ETH.
In accordance with the report by Arkham Intelligence, these ANT tokens are bought in two tranches price $550,000 and $518,000 in ETH.
Supply: Arkham Intelligence
ANT Token Swap Is The First Transaction In Virtually Two Years
Onchain information reveals that the government-initiated transaction was the primary exercise on the crypto pockets in virtually two years. Earlier than this current transaction, the US authorities crypto wallets bought a small switch from a high-balance crypto pockets account, which isn’t related to ANT liquidations.
Additionally, this particular pockets transferred a small quantity of ETH from a Coinbase pockets. These then interacted with the AragonDAO’s redemption pockets, changing the funds into Ether.
AragonDAO has determined to part out its ANT tokens after rejecting the deliberate creation of a community-owned group. There have been issues that the DAO may very well be the goal of a Sybill assault or that hid crypto whales may seize management of the blockchain.
Right now, the business considers AragonDAO a failed ecosystem and has locked up its Twitter/X account.
Supply: Arkham Intelligence
US Gov’t Used A Loophole To Swap ANT Into Extra Liquid Property
The US authorities has discovered a possibility to swap the seized ANT tokens for extra liquid and tradable belongings, like ETH. The AragonDAO contract operates and at present accepts retail {and professional} traders.
In accordance with the authorized schedules, token swaps and redemptions are nonetheless allowed till November 2nd. A set charge is used for the token swaps, ignoring the erratic market pricing for the remaining ANT trades.
Whereas Aragon has shut down its tokens, it plans to stay energetic after amassing the remaining funds on November third to give attention to different tasks.
Some Alameda Crypto Wallets Are Nonetheless Lively
Alameda wallets are nonetheless energetic, and the current transfers boosted its worth to $980,000 in ETH and different tokens. This pockets’s worth is small in comparison with the anticipated distribution for FTX, which might want to repay traders $12 billion and distribute $16 billion in bills and charges. This improvement suggests {that a} ultimate reimbursement for traders is coming.
Whereas many Alameda wallets are empty or include simply minor portions of digital belongings, some nonetheless have nice worth. One Alameda crypto pockets, as an example, had at the least $500,000 in AMPL tokens.
A few of these wallets have proven buying and selling actions, together with the buying and selling of FTM tokens. Alameda can be buying and selling its World (WLD) tokens, and simply the opposite day, its pockets despatched 143.77k WLD tokens to Binance.
Featured picture from Pexels, chart from TradingView
