Alameda Research Moves $17 Million in Solana as Bankruptcy Proceedings Continue
In a significant development within the ongoing FTX bankruptcy case, Alameda Research—the trading firm formerly controlled by FTX founder Sam Bankman-Fried—has unstaked over 197,000 Solana (SOL) tokens, valued at approximately $17 million. According to on-chain transaction data, these funds have been transferred to a designated bankruptcy account. This action is part of a structured, monthly process to liquidate assets for distribution to the exchange’s creditors, who are still awaiting repayment following one of the most catastrophic collapses in cryptocurrency history.
The Scale of Alameda’s Remaining Solana Holdings
While this transfer represents a substantial sum, it is a fraction of Alameda’s total Solana treasury. Data from blockchain analytics firm Arkham Intelligence indicates that as of July 2025, Alameda-controlled addresses held around 5 million SOL, then worth over $750 million, with a large portion locked in staking contracts. Following this latest unstaking, the estate retains approximately 3.5 million SOL across its on-chain wallets. At current market prices, that remaining stash is valued at roughly $326 million, underscoring Solana’s critical role as a cornerstone asset in the FTX bankruptcy estate’s recovery efforts.
Context: From FTX’s Collapse to Ongoing Creditor Distributions
To understand the significance of these movements, it’s essential to recall the events of November 2022. FTX, a leading global cryptocurrency exchange, and its affiliated trading firm Alameda Research, experienced a sudden, liquidity-driven implosion. This failure sent shockwaves through the digital asset industry, freezing customer funds and triggering billions of dollars in claims from creditors worldwide. Since the appointment of bankruptcy administrators, the primary goal has been the methodical recovery and monetization of the remaining digital assets to fund a eventual distribution plan.
Solana has been central to this effort. The token’s price trajectory mirrors the broader crypto market’s volatility. In the immediate aftermath of the FTX collapse, SOL traded near $10, reflecting deep sector-wide distress. Since then, it has staged a dramatic recovery, though it remains significantly off its all-time high. At the time of writing, SOL is priced at $87, a 2% increase over the previous 24 hours but still about 70% below its January 2022 peak of $293, as tracked by TradingView.
Why These Transfers Matter for Creditors
The regular, scheduled unstaking and transfer of assets like Solana are not arbitrary. They are deliberate steps in a court-supervised process to convert volatile cryptocurrency holdings into more stable, distributable forms—often U.S. dollars or other liquid assets. Each monthly distribution cycle moves the estate closer to fulfilling its obligations. For the tens of thousands of individuals and institutions owed money by FTX and Alameda, seeing these on-chain movements provides tangible, if incremental, proof of progress in a marathon bankruptcy process that has now spanned years.
The substantial remaining value in Solana—over $300 million—highlights both the potential for significant creditor recovery and the continued exposure of the estate to cryptocurrency market fluctuations. Future distributions will depend on the timing and scale of further asset sales, guided by the bankruptcy trustees’ strategy to maximize value while managing market impact.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
