Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has…
Bankrupt crypto firms FTX and Alameda have withdrawn approximately 192,000 Solana (SOL) tokens, worth around $44.9 million, from staking, according to blockchain analytics provider EmberCN.
The move follows a consistent pattern observed over the past year, with the estate redeeming Solana assets on a near-monthly basis.
Since November 2023, FTX and Alameda have unstaked and transferred nearly 9 million SOL, valued at $1.2 billion, averaging $134 per token.
FTX Estate Still Holds Nearly $1B in Solana Despite Ongoing Redemptions
Despite the ongoing redemptions, the estate still holds a significant Solana position.
Data from Solscan shows that roughly 4.18 million SOL, worth an estimated $977 million, remains staked as of Thursday.
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.
Meanwhile, FTX is gearing up for its third round of creditor repayments scheduled for September 30.
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.
The payments will be processed through FTX’s designated distribution partners, including BitGo, Kraken, and Payoneer.
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.
Earlier this year, FTX began repaying creditors after securing court approval for its redistribution plan, and to date, has returned approximately $6.2 billion.
FTX, once a dominant player in the crypto space, collapsed in November 2022 following a liquidity crisis triggered by revelations about its balance sheet.
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.
However, he is now projected to be released from federal prison on December 14, 2044, after serving less than 21 years of his 25-year sentence for fraud tied to the FTX collapse for good behavior.
He was also fined over $11 billion. Federal records confirm that Bankman-Fried has been moved from New York to a transfer facility in Oklahoma following nearly two years behind bars.
3AC Targets FTX Execs Over $1.5B Liquidation in New Subpoenas
The liquidators of collapsed hedge fund Three Arrows Capital (3AC) have subpoenaed former FTX CEO Sam Bankman-Fried, ex-Alameda CEO Caroline Ellison, and FTX executive Ryne Salame.
The move follows allegations that over $1.5 billion in 3AC assets were liquidated unlawfully by FTX-linked entities.
Bankman-Fried’s deposition is scheduled for October 14, 2025, at Terminal Island prison, where he is currently serving time.
3AC co-founder Zhu Su claims Bankman-Fried executed unauthorized liquidations that contributed to 3AC’s downfall.
He also accuses Salame of using insider knowledge to front-run trades and pocket over $1 billion in profits before FTX’s collapse.
Ellison is expected to be questioned regarding Alameda’s trading strategies that may have played a role in the alleged misconduct.
