FTX Estate Redeems More SOL, Progresses Crypto Repayments
This week, the FTX estate redeemed 192,000 SOL, equivalent to $43 million.The move aligns with a broader strategy as November 2023, where nearly $1.2 billion in Solana was sold off.
EmberCN flagged on-chain data showing the estate’s consistent monthly withdrawals. Staking positions are being methodically unlocked and transferred via various addresses toward big exchanges like Coinbase and Binance.
Despite massive movements, the estate still retains over 4.18 million SOL, worth approximately $960 million. This systematic liquidation fuels one of the largest crypto bankruptcy repayments.
The latest $43 million will join funds from other sales to reimburse FTX creditors. The estate plans another distribution round by September 30. So far, it has returned around $6.2 billion, including a $5 billion payout in May.
- Estimate $43 million from SOL sales this week.
- Nearly $1.2 billion in Solana liquidated as November.
- Over 4.18 million SOL still staked, worth $960 million.
- prepares for September repayment, totaling $6.2 billion so far.
Simultaneously,Sam Bankman-Fried’s legal battle persists. Convicted on seven federal charges related to massive fraud, he faces a 25-year sentence. His team contests the conviction, seeking an appeal.
