Alameda Research has moved about $16 million worth of Solana (SOL) after unstaking the tokens, with the transfer heading to a wallet previously linked to creditor distribution efforts. The on-chain pattern matches earlier transactions seen during the FTX restructuring process, pointing to continued repayment activity.
On-chain data shows a familiar destination wallet
Blockchain data tracked by Arkham Intelligence indicates the unstaked SOL was sent to an address that had already been associated with distribution-related transfers. There has been no official statement confirming that this latest batch will be paid out immediately, but the repeated use of the same route makes the transaction look like part of an organized repayment process rather than an isolated wallet movement.
On proof-of-stake networks, unstaking turns locked tokens into liquid assets that can be withdrawn, transferred, or sold. In Alameda’s case, that step makes the SOL available for use in obligations tied to the FTX bankruptcy proceedings.
A similar SOL transfer took place about a month earlier
The latest move came roughly one month after a comparable transfer, when Alameda sent a similar amount of SOL to the same destination address. That earlier transaction had already strengthened the view that these wallet movements were connected to ongoing creditor reimbursements.
Even after multiple transfers, Alameda still controls a large SOL position. According to Arkham data, the firm holds around 3.5 million SOL, valued at about $294 million. That remaining balance keeps attention on the possibility of more token releases and the supply pressure they could bring to the market.
SOL remains a major asset despite trading far below its peak
The report said SOL has recently traded near $82, well below its peak of $293 reached early last year. Solana’s market capitalization was cited at about $47 billion, keeping it among the larger digital assets by market value.
Alameda, founded in 2017 by Sam Bankman-Fried, once stood as a major trading firm in crypto, active across both spot and derivatives markets while supplying liquidity across exchanges. After the collapse of FTX in late 2022, asset recovery and creditor repayment became central to the restructuring effort. Transactions like this SOL transfer show that the unwind of Alameda’s holdings is still moving ahead step by step.