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- Alameda Research moved 197,637 SOL ($17M) as part of FTX creditor repayments.
- SOL remains Alameda’s largest on-chain asset, with 3.75M SOL still held.
- Solana price shows minor volatility despite large transfers, trading around $86.86.
Alameda Research, under the FTX bankruptcy estate, has taken another step in returning funds to creditors, transferring $17 million worth of Solana (SOL) after unstaking the tokens. This latest move underscores the ongoing effort to recover and redistribute assets tied to the 2022 FTX collapse, which shook the crypto world.
Alameda Unstakes 197,637 SOL
Data from Arkham Intelligence shows that Alameda Research moved approximately 197,637 SOL, valued at $17.08 million, from a staking wallet to an address linked to the FTX bankruptcy estate. This transfer is one of many executed by the bankruptcy team as part of the structured process to manage Alameda’s remaining crypto holdings.
Despite this transaction, Alameda still controls roughly 3.75 million SOL, valued at about $321 million at current prices, making it the largest asset in the firm’s on-chain portfolio. The company also holds other digital assets, including Bitcoin, stablecoins, and smaller tokens.
Funds Are Likely Going to Creditor Repayments
Since FTX’s collapse, administrators have gradually unlocked and moved digital assets to compensate affected customers. Under a court-approved restructuring plan, the bankruptcy estate aims to repay 100% of creditor claims plus interest.
A New York court, according to the Commodity Futures Trading Commission, mandated that FTX and Alameda pay $12.7 billion to customers, split between $8.7 billion in restitution and $4 billion in disgorgement. So far, around $7.6 billion has been returned to creditors, leaving roughly $5.1 billion in principal claims pending.
Also Read: Solana ETFs Near $1B in Just 18 Weeks — Can SOL Price Break $100 Next?
Solana Price Shows Minimal Reaction
Despite the significant transfer, Solana’s price has shown only minor volatility, trading around $86.86. The token remains about 28% below its one-year peak and far from its all-time high of $294. Over the past two months, SOL has largely traded sideways, fluctuating between $69 and $126, suggesting market participants are waiting for clearer signals before making major moves.
Alameda Research’s latest SOL transfer highlights the steady pace of asset recovery under the FTX bankruptcy estate. While the crypto market watches Solana’s price, the primary focus remains on repaying creditors and closing one of the most high-profile bankruptcies in crypto history.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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