Bankrupt crypto firms FTX and Alameda have withdrawn approximately 192,000 Solana (SOL) tokens, worth around $44.9 million, from staking, according to blockchain analytics provider EmberCN.
Since November 2023, FTX and Alameda have unstaked and transferred nearly 9 million SOL, valued at $1.2 billion, averaging $134 per token.
Solana’s market response was muted but positive. The token traded at $234.27 late Thursday night, reflecting a 4.3% daily gain and a 14.4% increase over the past week, according to The Block. The estate has so far returned $6.2 billion to former users, $1.2 billion in February and another $5 billion in May, as part of its restructuring efforts.
Data from Solscan shows that roughly 4.18 million SOL, worth an estimated $977 million, remains staked as of Thursday.
Earlier this year, FTX began repaying creditors after securing court approval for its redistribution plan, and to date, has returned approximately $6.2 billion. The fallout led to criminal charges against founder Sam Bankman-Fried, who was sentenced in 2023 to 25 years in prison for defrauding customers and investors of more than $11 billion.
As reported, a Chinese creditor representing over 300 users is opposing FTX’s proposal to restrict payouts in 49 jurisdictions, including China, arguing it is legally unfounded and unfair.