FTX-Linked Alameda Research Unstakes $32M in Solana Amid Market Liquidation Concerns

Alameda Research, the collapsed trading firm tied to FTX, has unstaked 187,600 SOL ($32.79 million) from a bankruptcy-associated address, raising questions about potential market impacts. With over $900 million in solana still staked under the same wallet, traders are closely monitoring whether this signals a reallocation or a larger liquidation event.

Alameda Research Unstakes $32M in Solana — Market Braces for Potential Sell-Off

Alameda Research, the defunct trading firm linked to FTX’s collapse, has unstaked approximately 187,600 SOL ($32.79 million) from a known bankruptcy-associated address. The move, executed on May 12, leaves over $900 million in Solana still locked in staking under the same wallet.

Market participants are scrutinizing whether this signals a routine reallocation or the precursor to a larger liquidation event. The unstaked tokens remain idle as of reporting, but Alameda’s history of large-scale asset movements has injected volatility concerns into SOL’s trading dynamics.

FTX EU Clients Can Now Reclaim Funds via Backpack

FTX EU users can now reclaim their euro-denominated balances through BackPack EU, a regulated cryptocurrency exchange. The announcement, made via Backpack’s official X account, outlines a two-step process for former FTX EU customers: verification followed by fund withdrawal.

This development follows Backpack’s acquisition of FTX EU in January 2025, approved by both the Cyprus Securities and Exchange Commission and the FTX bankruptcy court. The MOVE comes after previous attempts to facilitate fund recovery were marred by miscommunication between the parties.

The resolution marks a significant step forward for affected users who have faced prolonged uncertainty regarding their trapped funds. Backpack’s regulated status provides a compliant pathway for asset recovery in the wake of FTX’s collapse.