Alameda Research, the now-defunct trading firm once affiliated with FTX, has transferred 201,780 Solana (SOL) tokens to a BitGo custody wallet, according to on-chain data from Onchain Lens. The move marks the first time in five years that the firm has unstaked SOL, fueling speculation that the tokens are being prepared for an over-the-counter (OTC) sale.
Onchain Lens reported that Alameda unstaked 201,740 SOL before sending 201,780 SOL to BitGo. The transaction is part of the broader Alameda/FTX estate asset management process, which has been liquidating crypto holdings to repay creditors. BitGo is often used as a custody and settlement provider for OTC trades, and moving tokens to such a wallet is commonly seen as a preparatory step for a sale. However, the exact reason for the transfer has not been officially confirmed.
The potential sale is worth approximately $20 million at current prices. Solana has recovered strongly in recent months, and any large liquidation could introduce supply pressure. Because OTC transactions are typically arranged off-exchange with institutional buyers, the impact on public order books may be limited. The Alameda/FTX estate is conducting asset sales through a court-approved process to maximize creditor recoveries, and stakeholders are watching for further movements.
