FTX Estate Transfers $75M in Ether to Wintermute Amid Rebounding Market

FTX's bankruptcy estate has transferred $75.32 million worth of ETH to Wintermute, an over-the-counter (OTC) desk, in a move that aims to avoid front-running and maintain execution certainty.

The transfer, which occurred on September 23, consisted of 27,372 ETH routed through six separate wallets.

Wintermute is often used by estates as it allows for the gradual release of large positions without immediately affecting market prices.

This comes as ETH trades near $2,750, up 15% over the past seven days and a significant rebound from previous sales.

The FTX Recovery Trust has paid out roughly $11 billion to creditors in five distribution rounds, with the most recent one releasing about $900 million on July 3.