FTX & Alameda Unstake SOL in Credit Repayment Drive

Defunct FTX and its affiliate Alameda Research have recently unstaked and redistributed $23 million worth of Solana (SOL) tokens to multiple wallets amid ongoing efforts to settle creditor debts. This news follows previous large-scale unstaking events by the bankrupt exchange, which have involved billions of dollars in SOL and extensive asset liquidations through major exchanges like Coinbase and Binance. Despite the significant volume movements and historical sell-offs, SOL’s price has remained stable at around $127. The process is part of a broader repayment strategy that began last month, with the next phase of reimbursements scheduled for May 30. Influential platforms such as SpotOnChain, Arkham Intelligence, and CryptoSlate have confirmed the transactions, bolstering transparency while also hinting at potential liquidity concerns in the wake of FTX’s financial distress.