US Government Sold Aragons ANT Tokens for ETH Ahead of Planned Token Burn

The US government has sold off tokens seized from Sam Bankman-Frieds defunct hedge fund Alameda Research, Arkham Research reports. This is the first time in nearly two years that the wallet, which holds about $974,000 in cryptocurrency, has moved funds. Data shows that government officials withdrew more than 82,000 ANT tokens seized from the firm using the ANT token redemption address AragonDAO.

In November 2023, the Swiss non-profit Aragon Association voted to dissolve itself and sell 86,343 ETH (worth $155 million at the time) in exchange for ANT tokens. Users have until November 2, 2024 to redeem their ANT tokens. After the redemption, all ANT tokens will be burned, as there is no purpose in holding ANT at this point.

The move began when an address starting with 0xb0692 contributed to a US government wallet that was used to split funds from Alameda. So far, the US government has received 209,199 ETH worth $556,000 from AragonDAO. Before this transaction, the government address received 0.003 ETH ($7.03) from Coinbase, likely to pay gas fees.