FTX Unstakes 188,000 SOL Tokens Amid Bankruptcy Management

FTX and Alameda Research, under bankruptcy management, have recently unstaked a significant amount of Solana (SOL) tokens. As of June 2025, their staking address holds over 5 million SOL, valued at approximately $726 million. This includes the recent unstaking of 188,000 SOL tokens, which were then distributed to multiple new addresses, potentially for liquidity purposes.

The unstaking of such a large number of SOL tokens by FTX and Alameda has drawn attention in the Solana market. These actions are part of the process to manage creditor obligations and liquidate assets. Despite these movements, Solana's value has remained stable, with no drastic price changes reported. This stability suggests that the market may be absorbing these large-scale asset restructurings without significant downturns.

On-chain analysts closely track each major unstaking event, as these actions often precede possible market sell-offs. The current bankruptcy estate manages approximately 5 million SOL, with ongoing unstaking and asset distribution activities. Over 188,000 tokens have been unstaked and distributed to more than 30 intermediary wallets. These assets are moving through decentralized exchanges, signaling preparations for future sales.

Administrators and court-appointed trustees oversee the liquidation process. While there have been apprehensions about the impact of these transactions, Solana's value has remained largely unaffected. Previous large-scale liquidations, particularly involving other cryptocurrencies like Ethereum and MATIC, have prompted price fluctuations. However, the ongoing Solana unstaking shows market resilience.

These actions follow historical liquidation trends since FTX's collapse in 2022. The persistent stability of Solana's price suggests that the market has the capacity to absorb large-scale asset restructuring without significant downturns. Official commentary on these movements is lacking, but on-chain monitoring continues to provide updates. The Solana community is engaged in discussions about potential risks of broad-scale sell-offs, showing a cautious approach to these developments.