FTX and Alameda Unstake $431 Million in Solana, Largest Unlock Since November 2023

On March 4, 2024, wallets associated with the bankrupt crypto exchange FTX and Alameda Research unstaked 3.03 million Solana (SOL) tokens, valued at approximately $431 million. This marks their largest SOL unlock since November 2023, when they unstaked 2.1 million SOL worth $141 million. Following the recent unlock, FTX and Alameda deposited around 25,000 SOL, worth roughly $3.3 million, on Binance. Since November 2023, they've unstaked 7.83 million SOL, offloading them to Coinbase and Binance for an average price of $125.80 per SOL, totaling about $986 million. While FTX can sell digital assets weekly, court rulings limit initial sales to $50 million, with subsequent weeks capped at $100 million, potentially rising to $200 million with court approval. This activity occurs as FTX repays former users, having started distributing $1.2 billion in digital assets on February 18, 2024, to those affected by its collapse.