FTX bankruptcy estate unstakes 192,000 SOL worth $45M
The FTX and Alameda bankruptcy estate withdrew roughly 192,000 SOL tokens from staking on Thursday, September 11. The tokens were worth around $45 million, according to on-chain data from blockchain analyst Ember.
The withdrawal follows a pattern the estate has maintained since November 2023. Records show the bankruptcy estate has now pulled out and transferred 8.98 million SOL tokens total, valued at approximately $1.2 billion. Another 4.18 million SOL tokens worth about $960 million remain staked.
The estate typically redeems between 170,000 and 190,000 SOL tokens each month around the 10th to 15th. After withdrawal, the tokens get sent to multiple wallet addresses before eventually reaching centralized exchanges.
FTX has scheduled its next payment to creditors for September 30. The exchange has already completed two previous distribution rounds this year. In February, it paid out around $1.2 billion to creditors with smaller claims. Starting May 30, it distributed more than $5 billion through approved distribution partners.
"It's that time again for FTX/Alameda's monthly SOL fixed transfer around the 10th," Ember wrote in a recent post. The analyst has documented millions of SOL tokens redeemed since late 2023, with several million still remaining in staking.
The court-approved wind-down process allows the FTX Recovery Trust to repay customers in stages while managing the large token holdings the exchange accumulated before its collapse in November 2022. The estate continues working through these digital assets as part of the broader bankruptcy proceedings.
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