Alameda Research — the bankrupt sister firm of FTX — has unstaked roughly $16 million worth of Solana’s native token SOL and moved the funds to an address that blockchain sleuths link to creditor distributions, according to on-chain intelligence firm Arkham.
Unstaking is the process of withdrawing tokens that were previously locked to help secure a proof-of-stake network and earn rewards. This transfer mirrors a pattern seen about a month ago, when Alameda routed SOL to the same distribution address. That earlier move fueled expectations that these transfers are part of a broader creditor-repayment effort tied to the company’s restructuring, though there has been no formal confirmation that this particular tranche will be distributed imminently. The repeat activity, however, suggests continuity in the process rather than an isolated chain movement.
Context on SOL and Alameda
- SOL is the native token of the Solana blockchain and currently ranks as the world’s seventh-largest crypto by market capitalization, at about $47.26 billion.
- At the time of reporting, SOL was trading near $82 — largely flat on the day but still well below its $293 all-time high from January last year.
- Arkham’s on-chain snapshot shows Alameda still holds roughly 3.5 million SOL, valued at about $294.1 million.
A brief refresher: Alameda was founded by Sam Bankman-Fried in 2017 as a quantitative trading shop focused on arbitrage and market-making. Before its collapse alongside FTX, the firm was a major liquidity provider across spot, derivatives and structured products, trading billions in volume.
Why it matters
Moves like this are watched closely by creditors and market observers because they can signal how liquid assets are being prepared for potential distributions during bankruptcy and restructuring processes. While the latest transfer doesn’t confirm a payout timetable, the recurring routing of unstaked SOL to a known distribution address strengthens the case that Alameda is systematically converting and consolidating assets with creditor repayment in mind.
Read more AI-generated news on: undefined/news
