Staked Solana Amount Decreases by $431 Million via Wallets Connected to FTX and Alameda
Updated Article:
Holy smokes, looks like FTX and Alameda just dumped a whopping $431 million worth of SOL from their wallets, shifting 3.03 million SOL tokens! Roughly $3.38 million of these bad boys ended up on Binance.
According to the experts over at Lookonchain, this is the biggest unstaking event since November 2023, when these boys moved around $141 million worth of SOL.
Spot On Chain data reveals that the companies shuffled SOL across 37 wallets. This recent unstaking spree could be preparations for deposits to Coinbase and Binance.
Analyzing their actions, it's apparent that FTX and Alameda unitedly unstaked and passed out a total of $986 million worth of SOL to 37 wallets. Arguably, the major chunk of these tokens found their way to crypto exchanges like Binance and Coinbase. Insiders claim that the tokens were flipped on these exchanges at an average price of $125.8 per coin.
Interestingly, previous FTX customers holding assets under $50,000 have started receiving their first payouts via Kraken and BitGo since February 18, 2025.
Now, here's the catch - the current information doesn't offer conclusive evidence that a significant portion of SOL tokens were specifically sold via Binance and Coinbase. However, it's significant to note that Alameda Research allegedly unstaked nearly $32 million worth of SOL tokens in May 2025, which might've added to the selling pressure on Solana. Furthermore, there's a hint of SOL being shifted to Coinbase following the unstaking, possibly indicating potential sales or market fluctuations, but the reports do not explicitly state sales through these exchanges.
So, while we know about the unstaking event and potential for increased selling pressure, precise figures regarding sales through Binance and Coinbase remain unclear in these reports. Keep your eyes peeled for more updates!
The recent unstaking event by FTX and Alameda, worth $986 million in Solana (SOL), might have involved some tokens being deposited to crypto exchanges like Binance and Coinbase for potential sales. Experts suggest that the alleged unstaking of nearly $32 million worth of SOL tokens by Alameda Research in May 2025 could have added to the selling pressure on Solana, though concrete evidence for sales through Binance and Coinbase is yet to be confirmed.
