FTX Withdraws 177,693 SOL from Staking

A wallet linked to FTX and Alameda has withdrawn 177,693 SOL ($23.75 million) from staking. These coins may be transferred to centralized exchanges for sale. 

The wallet holds over 7 million SOL ($952 million) in staking. A significant portion of FTX’s coins may have been sold over-the-counter (OTC).

Earlier, FTX completed a series of auctions selling SOL worth $2.6 billion at significant discounts to market price. 

According to PeckShieldAlert, an address associated with Alameda transferred 143,800 WLD ($200,000) to Binance and 373 AAVE ($55,300) to Coinbase. Transactions to exchanges are typically perceived as sales. 

#PeckShieldAlert #Alameda-labeled address has transferred 143.8K $WLD (worth ~$200K) to #Binance & 373 $AAVE (worth ~$55.3K) to #Coinbase within the last 8 hours pic.twitter.com/dEOj2ro6Zu

— PeckShieldAlert (@PeckShieldAlert) September 12, 2024

Back in late August, FTX announced overwhelming creditor support for the updated exchange reorganization plan. The final figures will be submitted to the Delaware District Court ahead of the hearing on October 7, 2024.

The SEC has informed the court of its right to challenge payments denominated in stablecoins.