Alameda Research Dumps $35M in Solana Tokens—Is This a Strategic Unstake or a Fire Sale?

Alameda Research just shook the Solana ecosystem—unlocking $35M worth of staked SOL tokens in a single move. Was it profit-taking, risk management, or just another hedge fund playing hot potato with crypto assets?

Breaking Down the Unstaking

The defunct trading firm’s wallet activity shows a massive withdrawal from Solana’s staking pool. No explanations, no threads—just cold, hard blockchain transactions. Classic crypto opacity meets Wall Street-style discretion.

Market Impact

Solana’s price barely flinched—proof of the network’s liquidity or just traders numbed by 2022’s ghost chain trauma? Either way, $35M barely moves the needle in today’s institutional-grade crypto markets. (Funny how ‘decentralized finance’ now dances to trillion-dollar balance sheets.)

The Bottom Line

When a bankrupt entity makes eight-figure moves, watch closely—but don’t confuse desperation with strategy. After all, in crypto, even the corpses still trade.

How It All Started

FTX and Alameda’s legal troubles began in November 2022 after it was revealed that customer assets were being used in risky trading without permission. Alameda, which is owned and run by FTX founder Sam Bankman-Fried, was deeply tied to these operations. 

The scandal became one of the largest in crypto history, ending with bankruptcy filings and a criminal trial.

Following that, Bankman-Fried was found guilty in late 2023 and was sentenced in 2024. Since then, FTX’s new management has been working under court orders to return funds to creditors. 

According to the latest updates, the company has already returned about $6.2 billion in two payouts—$1.2 billion in February 2025 and $5 billion in May 2025.

A third repayment is set for September 30, 2025. The deadline for claims to be eligible in that round is August 15, 2025. Current estimates suggest total repayments could reach between $14.7 billion and $16.5 billion, depending on asset values.

Also Read: Binance Co-Founder CZ Seeks Dismissal of $1.76B FTX Claim