FTX estate redeems $45 million worth of Solana from staking: on-chain data

The FTX and Alameda estate has redeemed another tranche of Solana from staking, blockchain analytics provider EmberCN reported.

According to on-chain data cited by EmberCN, the bankrupt crypto entities redeemed about 192,000 SOL, worth roughly $44.9 million, from staking positions on Thursday. The latest transfer follows the familiar monthly schedule that has characterized FTX and Alameda's asset liquidation process, said EmberCN.

The on-chain analytics provider said that FTX and Alameda's staking address has redeemed and transferred a total of 8.98 million SOL, valued at about $1.2 billion, at an average price of $134 since November 2023. 

Their staking address still maintains considerable SOL holdings. As of Thursday, about 4.18 million SOL — currently valued around $977 million — remained staked, according to Solscan.

Solana's price climbed 4.3% in the past 24 hours to trade at $234.27 as of 11:45 p.m. ET Thursday, according to The Block's price page. It has risen 14.4% over the past week.

Meanwhile, FTX is preparing to distribute the next round of creditor repayments on Sept. 30, though it has not disclosed the size of the upcoming payout. To date, the collapsed exchange has returned about $6.2 billion to former customers through two prior distributions — $1.2 billion in February and $5 billion in May.