FTX continues to transfer an additional 10 million USD Solana to 30 new wallets.

Two bankrupt cryptocurrency companies, FTX and Alameda Research, have just transferred the amount of Solana (SOL) worth 10.3 million USD to 30 new wallet addresses, continuing a systematic liquidation of digital assets.

According to the on-chain data analysis platform Arkham Intelligence, this transaction was carried out on June 13.

Has transferred over 1 billion USD SOL since the end of last year

The blockchain researcher EmberCN confirmed these transactions, also stating that FTX and Alameda recently canceled the staking of 188,000 SOL – equivalent to approximately 31.5 million USD. Part of this token has been transferred to the aforementioned new wallets.

Since November 2023, two companies have continuously sold large amounts of SOL. EmberCN estimates that a total of more than 8.4 million SOL – equivalent to more than 1.09 billion USD – has been transferred.

FTX/Alameda's Solana Transaction Staked (Source: X/EmberCN)Most of this SOL was sold at an average price of around 130 USD/token, through major exchanges such as Binance and Coinbase, indicating that this was a liquidation activity to repay creditors after the bankruptcy in 2022.

However, FTX still holds a significant amount of Solana, with about 5.29 million SOL ( worth over 775 million USD), of which 5.05 million SOL is still locked in staking contracts.

FTX has completed two payment rounds for creditors

These new transactions are taking place against the backdrop of FTX continuing to implement its Chapter 11 restructuring plan, which has been approved by the court.

As of now, FTX has completed two rounds of payouts for customers and former investors: approximately 1.8 billion USD was distributed in February, and an additional 5 billion USD in May.

Notably, FTX has recently added Payoneer to its distribution partner list, alongside Kraken and BitGo. This aims to simplify the refund process and expand service coverage globally.

Experts believe that this move will help users in restricted countries access cryptocurrency custody services and have the opportunity to recover their digital assets faster.

However, there are still many creditors in countries like Russia, China, Egypt, and Nigeria who have yet to receive their refunds, even though they once accounted for a large percentage of FTX's customer base before the exchange's collapse.

Thach Sanh

SOL-7.07%
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