FTX estate redeemed 192,000 SOL this week, worth $43 million. Since November, FTX and Alameda have unwound nearly $1.2 billion in Solana, steadily moving funds through exchanges.
Summary
- FTX estate redeemed 192,000 SOL this week, valued at $43 million.
- Since November 2023, nearly $1.2 billion in Solana has been liquidated.
- Over 4.18 million SOL remains staked, worth around $960 million.
According to on-chain data flagged by EmberCN, the FTX and Alameda estate redeemed 192,000 SOL this week, valued at roughly $43 million. The withdrawal follows the estate’s established monthly pattern, in which staking positions are systematically unlocked and funneled through multiple addresses, often moving toward major exchanges such as Coinbase and Binance.
Since November 2023, the estate has liquidated nearly 8.98 million SOL, worth about $1.2 billion at an average price of $134 per token. Even with billions already moved, the estate still holds more than 4.18 million SOL staked, valued at close to $960 million.
Funding repayments and facing appeals
FTX’s systematic liquidation is the financial engine behind one of the largest bankruptcy repayments in crypto history, with proceeds from these sales, including this latest $43 million, pooled to reimburse the creditors and customers left stranded after the exchange’s catastrophic collapse.
Notably, the estate is preparing for its next distribution round, scheduled for September 30. To date, FTX has returned approximately $6.2 billion to former customers through two prior waves, including a $5 billion distribution in May.
This ongoing effort to make creditors whole continues as Sam Bankman-Fried pursues an appeal. Following a trial that unearthed one of the largest financial frauds in American history, Bankman-Fried was convicted on seven federal charges, including wire fraud and conspiracy to commit money laundering. His legal team has since filed an appeal, contesting the conviction and the 25-year sentence handed down by the court.
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