According to Arkham data source, Alameda Research, the sister company of bankrupt FTX crypto exchange Alameda Research, “de-staking” approximately $16 million in Solana’s SOL token and moved it to an address linked to creditor payments.
Unstaking refers to the process of withdrawing crypto assets that were previously locked in a proof-of-stake (PoS) network to help secure the blockchain and earn rewards.
The latest move follows a familiar pattern: withdrawing the coins and sending them to addresses used to repay creditors. About a month ago, Alameda did the same, directing funds to the same distribution address. That earlier move ultimately raised expectations that the funds were part of an ongoing creditor repayment process tied to the company’s restructuring.
While there has been no formal confirmation that this specific tranche will be distributed imminently, the repetition of the pattern suggests a continuity in the process rather than an isolated movement.
SOL, the native token of the Solana programmable blockchain, has a market capitalization of $47.26 billion, making it the seventh largest digital asset in the world. At the time of writing, SOL was trading near $82, virtually unchanged in 24 hours, but significantly below its all-time high of $293 reached in January of last year.
Alameda, founded by Sam Bankman-Fried in 2017, began as a quantitative trading shop focused on arbitrage opportunities in digital assets, exploiting price differences between exchanges and markets.
At its peak, Alameda was a major liquidity provider in the crypto markets and was deeply embedded in the ecosystem, trading billions in volume and operating in spot, derivatives and structured products.
Alameda still has around 3.5 million SOL worth $294.10 million, according to Arkham.
