The bankrupt estate of FTX and its trading arm Alameda Research has pulled another 192,000 Solana (SOL) from staking, valued at about $44.9 million, according to blockchain analytics provider EmberCN. The redemption, executed Thursday, continues a monthly schedule of asset liquidations designed to raise funds for creditor repayments.
Since November 2023, the estate has redeemed and transferred nearly 9 million SOL, worth roughly $1.2 billion at an average price of $134. FTX originally accumulated more than 55 million SOL between 2020 and 2022 through early investments in the ecosystem, holdings once valued at over $16 billion during Solana’s November 2021 peak.
Even after the latest unstaking, the estate’s address retains 4.18 million SOL, valued at around $977 million, according to Solscan. Broader court filings show the estate still controls over $14 billion in total assets, including tokens, cash, and more than 400 equity stakes in private firms.
The liquidations are part of preparations for the next creditor distribution scheduled for Sept. 30. FTX has already returned $6.2 billion across two repayment tranches this year — $1.2 billion in February and $5 billion in May. With approved creditor claims totaling $11.2 billion, the estate has now repaid more than half of customer balances. A structured repayment plan approved by the Delaware bankruptcy court runs through 2026.
Solana’s price rose despite the withdrawals, climbing 4.3% to $234.27 over the past 24 hours, according to The Block. The token is up more than 14% this week and has gained over 180% year-to-date in 2025, making it one of the top-performing large-cap cryptocurrencies. Solana continues to benefit from surging activity in DeFi and meme coin trading, with daily transactions exceeding 30 million — far above Ethereum — according to Artemis data.
Market watchers say that while the estate’s steady sales create short-term supply pressures, Solana’s broader ecosystem growth has offset these concerns, keeping momentum strong among retail and institutional participants alike.
FTX’s estate continues to manage one of the largest wind-downs in crypto history. The exchange collapsed in November 2022, leaving an estimated 9 million customers without access to funds. Founder Sam Bankman-Fried was sentenced to 25 years in prison in March 2024, while restructuring chief John J. Ray III has overseen asset recovery and liquidation efforts.
With billions in repayments still pending, the pace of asset sales will remain a focal point for both creditors and crypto markets. For now, Solana’s resilience in the face of steady supply suggests strong underlying demand, though further large redemptions could test sentiment as the estate progresses toward its 2026 repayment deadline.
