Following a similar strategy to previous actions, Alameda Research, the bankrupt crypto exchange FTX’s affiliate, has unstaked approximately $16 million worth of Solana’s SOL token. This amount was moved to an address associated with creditor repayments, as reported by data source Arkham.
Unstaking involves releasing cryptocurrency assets that were previously locked within a proof-of-stake (PoS) network to secure the blockchain and accrue rewards. This latest transaction mirrors past activities where unstaked coins were directed towards addresses used for creditor reimbursements. Around one month prior, Alameda executed a comparable move, directing funds to the same address, which led observers to speculate that these actions are part of an ongoing creditor repayment strategy connected to its restructuring efforts.
Despite no formal announcement confirming imminent distribution of this specific amount, the repeated pattern suggests a continuation of previous processes rather than a one-time transaction.
SOL is Solana’s native token and has a market capitalization of $47.26 billion, ranking it as the seventh-largest digital asset globally. At present, SOL trades around $82, showing little change from its 24-hour performance but marking a significant drop from its peak of $293 in January last year.
Founded by Sam Bankman-Fried in 2017, Alameda initially focused on quantitative trading and arbitrage opportunities within the digital asset space. At its height, it was a prominent liquidity provider in crypto markets, deeply integrated into various ecosystems with billions traded across spot, derivatives, and structured products.
According to Arkham data, Alameda currently holds approximately 3.5 million SOL, valued at $294.10 million.