The portfolio associated with the exchange of the encrypted currency FTX and its affiliated company Alaameda Research has cut more than 3 million Solana code (SOL) in one of the largest holes in the cryptocurrency.
The unstable activity was made for the first time by the famous Blockchain analysis company Lookonchain, which noticed that the closed distinctive symbols were estimated at about $ 430 million at the time of this step.
The unstable Sol represents its continuous efforts to recover funds and recover creditors after it exploded in a large way in late 2022. Since November 2023, both companies have been constantly moved large quantities of Sol, an encrypted currency that its founder Sam Sam Banglan Farid.
FTX/Alameda Unstaked 3.03M $ Sol(431.3 million dollars) and transferred it to multiple portfolios.https://t.co/nfdcxt3vkd pic.twitter.com/8ms4y3z9FW
– Lookonchain (@swearonchain) March 4, 2025
Since November, the data shows that the two companies have made a total of 7.83 million Sol icons worth more than $ 1.1 billion at the time of writing this report. Then these assets were sent to the central stock exchanges and are likely to be used Crediter FTX payments.
The last unstable process comes at a time when the Sol price decreased by almost 30 % in the last 30 days amid the sale of a wider encrypted currency market. The original is currently trading at $ 143 per unique symbol, a decrease from above $ 250 earlier this year, according to Coinmarketcap Data.
Crediter FTX payments are ongoing
As reported earlier, FTX creditors started receiving their batches earlier this year. In total, about $ 16 billion is scheduled to be distributed among the stock exchange creditors.
The creditors receive approximately 119 % of their dismissed claims, as shown in the bankruptcy plan and its impact by social media reports. It is expected that the total initial payments, which were made for claims of less than $ 50,000, will be about $ 1.2 billion.
