FTX and Alameda Redeem $43.56 Million in Solana from Staking
The FTX estate redeemed 192,000 SOL, worth $43 million, continuing a systematic liquidation process that began in November 2023 to repay creditors, with $6.2 billion already returned to customers.
SOL
Summary
FTX and Alameda redeemed 192,000 SOL, valued at $43 million, from staking and distributed the funds across 28 addresses, a move consistent with their ongoing liquidation strategy. Since November 2023, nearly 9 million SOL have been redeemed, with 4.18 million SOL still staked. The redemption supports one of crypto's largest bankruptcy repayments, totaling $6.2 billion to creditors. FTX is preparing for a new distribution round in September 2025.
Terms & Concepts
- SOL (Solana): The native cryptocurrency of the Solana blockchain, used for transactions, staking, and network security.
- Staking: The process of locking up cryptocurrency to support a blockchain network's operations, earning rewards in return.
- Redemption: In staking, the act of withdrawing staked cryptocurrency, making it available for transfer or sale.