- FTX and Alameda’s estate has unstaked 192,000 Solana (SOL) worth $45 million, bringing total redemptions since November 2023 to nearly $1.2 billion.
- Despite the ongoing liquidations, Solana’s price climbed over 4% in the past 24 hours, showing resilience as FTX prepares its next creditor payout on September 30.
The FTX and Alameda Research estate has redeemed another significant chunk of its Solana (SOL) holdings, continuing its systematic asset liquidation strategy.
According to blockchain analytics provider EmberCN, the bankrupt entities unstaked 192,000 SOL, worth approximately $44.9 million, on Thursday.
又到 FTX/Alameda 每月十来号的 SOL 固定转出时间了。
他们在 7 小时前从质押里赎回了 19.2 万枚 $SOL ($4356 万)，应该会和以前一样在今天晚些时间分发转移给多个地址。然后这些收到 SOL 的多数地址后续会把 SOL 转进 Coinbase 或 Binance。
FTX/Alameda 质押地址从 2023 年 11… pic.twitter.com/TjALHssMsA
— 余烬 (@EmberCN) September 12, 2025
This latest move is part of a recurring monthly redemption cycle that has been ongoing since late 2023. Since November of that year, FTX and Alameda’s staking address has redeemed and transferred around 8.98 million SOL, valued at about $1.2 billion at an average price of $134, according to EmberCN’s analysis.
Despite the sizable withdrawals, the estate still holds a significant position in Solana. Data from Solscan shows roughly 4.18 million SOL, valued at nearly $977 million, remains staked under the estate’s control. This indicates that FTX and Alameda’s unwinding of their Solana portfolio remains far from complete, leaving the market attentive to further redemptions.
Market Impact and Solana Price Resilience
Interestingly, Solana’s price did not face immediate downward pressure following the redemption. Instead, SOL rose 4.3% in the past 24 hours, reaching $234.27 as of late Thursday evening. On a weekly basis, the token has gained 14.4%, reflecting growing investor optimism despite looming supply concerns from the FTX estate’s liquidations.
The resilience suggests that traders and institutional players may already be pricing in the estate’s scheduled sales. Moreover, the broader crypto market rally has buoyed Solana, which continues to benefit from increasing adoption in decentralized finance (DeFi), tokenization, and blockchain infrastructure development.
FTX’s Repayment Efforts Continue
The asset liquidations are closely tied to FTX’s efforts to repay creditors following its collapse in November 2022. So far, the exchange has returned about $6.2 billion across two prior distributions: $1.2 billion in February and $5 billion in May. The next round of repayments is expected on September 30, though the estate has not disclosed the specific size of this payout.
By maintaining a steady pace of asset unwinding, FTX’s estate appears committed to maximizing recovery value for creditors without sparking sharp market volatility. However, with nearly $1 billion in Solana still staked, the potential impact of future liquidations remains a point of close observation among traders and analysts.
Looking Ahead
The $45 million redemption underscores the scale and complexity of FTX’s restructuring process. For Solana, the key question is how the market will absorb additional supply over the coming months. If recent price resilience is any indication, investor appetite for SOL may remain strong enough to counterbalance selling pressure.
For creditors, the steady redemption and repayment cycle signals progress toward recovery, though full reimbursement timelines remain uncertain. As September’s payout date approaches, both Solana investors and FTX claimants will be watching closely for the next developments in one of crypto’s largest bankruptcy wind-downs.
