FTX and Alameda Research have reportedly cashed out $10.8 million in Binance and Coinbase tokens. The move comes as part of an ongoing effort by the companies to diversify their holdings and potentially buffer against potential market downturns. This strategic decision underscores the increasing importance of portfolio diversification in the volatile cryptocurrency market, and may suggest a cautious outlook for the immediate future of major cryptocurrencies. The liquidation of these assets also highlights the growing role of Wintermute, a global algorithmic trading firm, in facilitating large-scale cryptocurrency transactions.