Defunct FTX and its affiliate, Alameda Research, have recently unstaked and transferred 185,345 Solana (SOL), valued at $22.9 million, to 38 different wallets in the last 24 hours, as reported by the blockchain analytics platform SpotOnChain.
The blockchain intelligence firm confirmed this information and noted that the receiving wallets, which had previously obtained assets from staking addresses, now collectively hold around $178.82 million in SOL.
SpotOnChain also highlighted that this recent unstaking event follows a notable occurrence in March when FTX unlocked 3.03 million SOL, worth approximately $432.5 million, and distributed those tokens across several wallets.
Since November 2023, the bankrupt exchange and its trading arm have unstaked nearly 8.019 million SOL, valued at close to $1 billion. A significant portion of these assets has been liquidated through Coinbase and Binance, with an average sale price of $125.8 per token.
In spite of these sales, FTX and Alameda still possess 5.5 million SOL, which is estimated to be worth $693.8 million. Meanwhile, the latest unstaking event did not notably affect SOL’s market price. As of the latest data, the digital asset’s value remains steady at about $127.
### FTX Repayments
These asset transfers occur as FTX makes efforts to settle its debts with creditors. Last month, the exchange initiated the reimbursement process for claimants with amounts under $50,000. Reports suggest that these creditors received their full dues, including an annual interest of 9% on their claims, accrued since the exchange’s downfall in November 2022.
Blockchain intelligence has noted that the initial round of repayments led to $1.2 billion being withdrawn from wallets associated with FTX. Furthermore, Kraken, one of the exchanges facilitating these payouts, has announced that the next phase of reimbursements will commence on May 30, targeting larger creditors with claims over $50,000.
However, creditors in various regions, including China, Russia, Egypt, Nigeria, and Ukraine, have yet to see their reimbursements, and it remains uncertain if they will be included in the upcoming payout round.