The activity associated with the FTX wallet has raised concerns about a potential altcoin #dump.

The transfer of assets worth approximately $10.2 million from the wallet linked to FTX has sparked fears of a potential liquidation of its contents as part of a bankruptcy procedure.

"Over $1.5 billion in #SOL, SPL tokens, and 'wrapped' Bitcoins are moving to the #FTX address on Solana. It seems they are preparing for potential sell-offs. Keep an eye on this, especially the ~$200 million in Bitcoins on Solana," Pump House stated in a message.

According to Arkham Intelligence, since August 31st, the wallet has transferred approximately $6.23 million in ETH and over $5 million in various tokens, including #FTT (~$1.2 million), #UNI (~$1.8 million), HXRO (~$1.3 million), SUSHI (~$550,000), and FRONT (~$260,000).

On August 24th, FTX informed the court of its plans to "sell, stake, and hedge" its cryptocurrencies worth $3 billion. To carry out this plan, the exchange will hire Galaxy Digital's Mike Novogratz. According to the plan, the platform will be allowed to sell tokens worth no more than $100 million per week, but this limit may be doubled for each individual asset. These restrictions are designed to reduce the impact of transactions.

FTX's lawyers have also filed a separate motion for the sale of Bitcoins and Ethereum.

The court will consider these motions on September 13th.

On July 31st, FTX unveiled a plan to relaunch the offshore exchange with access for users outside the United States. However, the company's creditor committee criticized the management's idea.

Recall that in June, the current management team of the platform announced that it had recovered liquid assets worth approximately $7 billion.