FTX Estate Continues LiquidatingSolana Holdings
This week, the FTX estate redeemed 192,000 SOL, valued at $43 million. This move aligns with a longstanding strategy initiated in November 2023.
Since late 2023, FTX and Alameda have liquidated nearly $1.2 billion worth of Solana. The process involves unlockings and transfers too major exchanges like Coinbase and Binance. Over 4.18 million SOL remains staked, holding a value close to $960 million.
As EmberCN’s on-chain data suggests,the estate systematically sells off holdings to fulfill financial obligations. The latest redemption contributes to repaying creditors and customers following FTX’s collapse.
- Repayment efforts include a $5 billion distribution in may.
- An additional $6.2 billion has been returned thus far.
- Next distribution set for September 30.
While FTX’s liquidations progress, Sam Bankman-Fried contends his legal battle. He appeals against convictions for fraud and other crimes, along with his 25-year sentence.
