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FTX Sends $10M Solana to 30 Wallets in Fresh Liquidation Round
In the latest development, FTX and Alameda Research have transferred a significant sum of Solana (SOL) tokens to 30 different blockchain wallets. The transaction, worth approximately $10.3 million, has been detected by Arkham Intelligence.
The move is part of a larger strategy by the bankrupt entities to offload their Solana holdings as they continue to work through their asset sale process under bankruptcy court oversight. Since November 2023, FTX and Alameda Research have together liquidated over $1.09 billion worth of Solana tokens across multiple exchanges.
The latest transfer is notable for its size, with the unstaked SOL tokens being transferred in batches. This approach allows the firms to prepare assets for creditor payments. The transfer follows a consistent pattern since November 2023, where staking lockups are followed by wallet activity.
Source: coinchapter.com
