TLDR
- FTX estate and Alameda have redeemed $45 million in Solana tokens as part of their ongoing asset management strategy.
- Since November 2023, the estate has unstaked and transferred nearly 9 million SOL, valued at $1.2 billion.
- Despite the redemptions, the FTX estate still holds approximately 4.18 million SOL, worth about $977 million.
- The estate is preparing for its third round of creditor repayments scheduled for September 30.
- FTX has returned over $6 billion to creditors so far through its distribution partners, including BitGo, Kraken, and Payoneer.
The FTX estate, alongside Alameda, has redeemed approximately 192,000 Solana (SOL) tokens, valued at around $44.9 million, from staking. This move follows a consistent pattern observed since November 2023, where the estate has been regularly redeeming Solana assets. This activity has continued as part of the ongoing efforts to restructure the estate and manage its holdings.
Ongoing Redemptions Since November 2023
Since November 2023, FTX and Alameda have unstaked and transferred nearly 9 million SOL, worth $1.2 billion. This figure reflects an average price of $134 per token over the past year. The ongoing withdrawals represent a continued strategy by the estate to liquidate Solana holdings in an effort to repay creditors and settle liabilities.
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
The estate has shown a consistent commitment to these redemptions, which have been happening almost monthly. Each transfer, like the recent withdrawal of 192,000 SOL, plays a significant role in the estate’s asset management. Despite these regular liquidations, the FTX estate still holds a large position in Solana, with significant assets remaining staked.
FTX Estate Still Holds Nearly $1B in Solana
As of Thursday, data from Solscan shows that the FTX estate still holds approximately 4.18 million SOL tokens, worth about $977 million. These tokens are still staked, despite the repeated withdrawals over the past months. Solana’s market response to these developments has remained relatively muted, but slightly positive, with a 4.3% daily increase in the token’s price.
The FTX estate’s holdings in Solana remain significant, even as it continues to redeem portions of its stake. While the regular withdrawals may raise concerns, the estate’s strategy seems focused on maximizing liquidity for creditor repayments. Solana’s price increase also suggests that the market has not been dramatically affected by these large redemptions.
FTX Third Round of Creditor Repayments Set for September 30
The FTX estate is preparing for its third round of creditor repayments, scheduled for September 30. These payments will be processed through FTX’s distribution partners, including BitGo, Kraken, and Payoneer. So far, the estate has returned $6.2 billion to creditors, with previous rounds taking place in February and May.
FTX’s restructuring efforts have focused on repaying former users, despite ongoing opposition from some creditors. A Chinese creditor group representing over 300 users is challenging the estate’s plan to restrict payouts in certain jurisdictions. The dispute centers around the legal grounds for restricting payments to 49 jurisdictions, including China.
The estate continues to work through its repayment plan, which aims to return as much value as possible to creditors. While there are still challenges, the FTX estate is progressing with its liquidation and restructuring efforts. As of now, over $6 billion has been returned, with more expected as the third round of repayments approaches.
FTX, once a dominant force in the cryptocurrency market, collapsed in November 2022 due to a liquidity crisis. This collapse triggered a series of legal actions, including the criminal charges against FTX founder Sam Bankman-Fried. Bankman-Fried was sentenced to 25 years in prison in 2023 for fraud related to the collapse of FTX.
In addition to the legal proceedings against Bankman-Fried, the FTX estate faces new challenges. The liquidators of Three Arrows Capital (3AC) have subpoenaed FTX executives as part of an investigation into over $1.5 billion in allegedly unlawful liquidations. These subpoenas target Bankman-Fried, ex-Alameda CEO Caroline Ellison, and FTX executive Ryne Salame, as part of ongoing legal scrutiny.
