Alameda Research, the trading arm linked to the collapsed exchange FTX, has unstaked 198,425 SOL, worth about $16 million, and moved the funds to an address tied to the FTX bankruptcy estate for potential creditor repayments.
Alameda Moves New Batch of Solana to Bankruptcy Wallet
Arkham Intelligence’s on-chain data suggests that a wallet associated with Alameda took out 198,425 SOL from a staking address over the weekend. That stake was worth about $16 million at the time, about what Solana was trading for in the low 80s.
After the unstaking transaction was confirmed, Alameda sent the full amount to a distribution wallet controlled by the FTX estate under bankruptcy. That address has repeatedly received assets, which it then routes to exchanges or uses in creditor repayment plans.
This latest move follows a similar pattern from mid‑March, when Alameda unstaked around 197,000 SOL worth about $17 million and sent the tokens to the same bankruptcy wallet. The estate appears to be unwinding its Solana exposure in regular monthly waves instead of a single large sale.
Part of a Broader SOL Unwind for FTX Creditors
Solana remains one of the largest single holdings in the combined FTX and Alameda portfolios. Arkham data cited in recent reports shows Alameda‑linked wallets still hold roughly 3.5 million SOL, valued between $294 million and $320 million, even after recent transfers.
Since FTX’s collapse in late 2022, the estate has redeemed multiple SOL staking positions, often in tranches of around 190,000–200,000 SOL each. Alameda and the FTX estate previously unstaked 192,000 SOL and 196,611 SOL, worth $45 million and $16 million at the time, and prepared the tokens for distribution or sale.
Court‑supervised filings say the estate’s mandate is to marshal and monetize liquid assets to repay billions in creditor claims. That process has already involved moving more than $1 billion in SOL out of staking contracts and into liquid wallets throughout the bankruptcy.
Despite the new $16 million unlock, Solana’s price showed little immediate reaction, trading roughly flat on a 24‑hour basis around the low‑80‑dollar level. Markets have grown used to periodic FTX and Alameda Solana transfers, which often precede gradual selling rather than instant market dumps.
The estate has frequently spread outgoing SOL across multiple addresses and exchanges, including Coinbase and Binance, to avoid hitting order books all at once.
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