Alameda Research, the sister firm of bankrupt exchange FTX, has unstaked approximately $16 million worth of Solana's native token SOL and moved the funds to an address linked to creditor repayments, according to on-chain data provider Arkham.
Pattern of Unstaking and Transfers Suggests Continuity
Unstaking refers to withdrawing tokens previously locked in a proof-of-stake network to secure the blockchain and earn rewards. This latest move follows a familiar script: about a month ago, Alameda conducted a similar transfer to the same distribution address. The repetition signals that the funds are likely part of an ongoing creditor repayment process tied to the firm's restructuring. No official confirmation has been made that this specific batch will be distributed immediately, but the consistent pattern underlines continuity rather than a one-off shuffle.
SOL Market Snapshot and Alameda's Remaining Holdings
SOL, the native coin of the Solana blockchain, currently holds a market cap of $47.26 billion, ranking seventh among global digital assets. At press time, SOL is trading near $82, barely changed over 24 hours but far below its all-time high of $293 hit in January last year. Arkham data shows Alameda still holds roughly 3.5 million SOL, valued at about $294.1 million.
From Quant Giant to Bankruptcy Liquidation
Founded by Sam Bankman-Fried in 2017, Alameda started as a quantitative trading firm arbitraging price differences across exchanges. At its peak, it was a major liquidity provider in crypto, trading billions in volume across spot, derivatives, and structured products. After FTX's collapse, Alameda entered bankruptcy proceedings, and its asset distribution has become a closely watched indicator for creditor recovery.