FTX and Alameda Unstake $45M Solana Trove - Here’s Why It Matters
Crypto giants FTX and Alameda Research just unleashed $45 million in SOL from staking contracts—triggering market speculation about their next move.
Strategic Unlocking or Liquidity Play?
The massive unstaking operation represents one of the largest single movements of Solana this quarter. While staking typically signals long-term conviction, pulling funds suggests either portfolio rebalancing or preparation for strategic deployment elsewhere.
Market watchers are divided—some see this as routine treasury management, while others interpret it as positioning for upcoming market opportunities. Either way, moving $45 million in native SOL isn't something that happens quietly.
Timing Is Everything
The redemption comes amid renewed institutional interest in Solana's high-throughput ecosystem. With SOL hovering near key resistance levels, large movements like this often precede significant price action—whether up or down.
Just another day in crypto—where 'long-term hold' sometimes means 'until we need the liquidity.'
FTX Estate Still Holds Nearly $1B in Solana Despite Ongoing Redemptions
Despite the ongoing redemptions, the estate still holds a significant Solana position.
Data from Solscan shows that roughly 4.18 million SOL, worth an estimated $977 million, remains staked as of Thursday.
Solana’s market response was muted but positive. The token traded at $234.27 late Thursday night, reflecting a 4.3% daily gain and a 14.4% increase over the past week, according to The Block.
又到 FTX/Alameda 每月十来号的 SOL 固定转出时间了。
他们在 7 小时前从质押里赎回了 19.2 万枚 $SOL ($4356 万)，应该会和以前一样在今天晚些时间分发转移给多个地址。然后这些收到 SOL 的多数地址后续会把 SOL 转进 Coinbase 或 Binance。
FTX/Alameda 质押地址从 2023 年 11… pic.twitter.com/TjALHssMsA
Meanwhile, FTX is gearing up for its third round of creditor repayments scheduled for September 30.
The estate has so far returned $6.2 billion to former users, $1.2 billion in February and another $5 billion in May, as part of its restructuring efforts.
The payments will be processed through FTX’s designated distribution partners, including BitGo, Kraken, and Payoneer.
As reported, a Chinese creditor representing over 300 users is opposing FTX’s proposal to restrict payouts in 49 jurisdictions, including China, arguing it is legally unfounded and unfair.
Earlier this year, FTX began repaying creditors after securing court approval for its redistribution plan, and to date, has returned approximately $6.2 billion.
FTX, once a dominant player in the crypto space, collapsed in November 2022 following a liquidity crisis triggered by revelations about its balance sheet.
The fallout led to criminal charges against founder Sam Bankman-Fried, who was sentenced in 2023 to 25 years in prison for defrauding customers and investors of more than $11 billion.
However, he is now projected to be released from federal prison on December 14, 2044, after serving less than 21 years of his 25-year sentence for fraud tied to the FTX collapse for good behavior.
He was also fined over $11 billion. Federal records confirm that Bankman-Fried has been moved from New York to a transfer facility in Oklahoma following nearly two years behind bars.
3AC Targets FTX Execs Over $1.5B Liquidation in New Subpoenas
The liquidators of collapsed hedge fund Three Arrows Capital (3AC) have subpoenaed former FTX CEO Sam Bankman-Fried, ex-Alameda CEO Caroline Ellison, and FTX executive Ryne Salame.
The MOVE follows allegations that over $1.5 billion in 3AC assets were liquidated unlawfully by FTX-linked entities.
Bankman-Fried’s deposition is scheduled for October 14, 2025, at Terminal Island prison, where he is currently serving time.
3AC co-founder Zhu Su claims Bankman-Fried executed unauthorized liquidations that contributed to 3AC’s downfall.
He also accuses Salame of using insider knowledge to front-run trades and pocket over $1 billion in profits before FTX’s collapse.
Ellison is expected to be questioned regarding Alameda’s trading strategies that may have played a role in the alleged misconduct.
