Bankrupt entities FTX and Alameda Research have staked 20,736 ETH (worth approximately $79 million) on Ethereum's Proof-of-Stake network, according to on-chain data verified by analyst @EmberCN.
The transaction, originating from identifiable FTX/Alameda wallets, aims to generate passive yield for creditors during ongoing bankruptcy proceedings. This strategic move mirrors asset management approaches previously employed by other bankrupt crypto firms like Celsius and Voyager, focusing on maximizing recovery value through staking rewards.
The staking action increases Ethereum's total staked supply by 20,736 ETH, potentially enhancing network security and decentralization. Analyst EmberCN confirmed: "The FTX/Alameda wallet has staked 20,736 ETH, amounting to approximately $79 million into Ethereum’s PoS protocol as part of their bankruptcy proceedings."
Market impacts appear subdued, with expectations of only minor fluctuations in staking derivatives. The strategy involves reallocating existing assets rather than new investments, with no immediate statements from FTX leadership. Regulatory scrutiny may follow this approach to crypto asset utilization in bankruptcy cases.