Ethereum

Rally

Solana

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 <p>A Solana address potentially related to the now-defunct crypto exchange FTX has unstaked $90 million worth of SOL, according to on-chain data.</p>
 <p>First spotted by Lookonchain, an address beginning with “4Axqyo” unstaked 1.5 million SOL and transferred it to another address.</p>
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 <p>According to FTX, the address that received the coins then sent nearly a quarter billion dollars worth of SOL to crypto exchange Coinbase.</p>
 <p><em>“FTX-related address ‘4Axqyo…HswTAh’ unstaked 1.5M SOL ($90 million) 2 hours ago and transferred it to ‘3vxheE…5mgkom.’</em></p>
 <p><em>And we noticed that “3vxheE…5mgkom” deposited 4.13M SOL ($248.67 million) to Coinbase 11 hours ago.”</em></p>
 <p>The firm says that the ‘3vxheE’ is likely an internal address for Coinbase that the exchange uses for handling deposits before distributing coins to storage.</p>
 <p>The estate of FTX is currently in the process of selling off what’s left of its assets to partially compensate its debtors.</p>
 <p>Last week, a court in Delaware granted a motion filed earlier this month that would allow the debtors of FTX and its affiliates to start selling $744 million worth of trust assets associated with crypto asset management firms Grayscale and Bitwise.</p>
 <p>According to previous&nbsp;reports, the trust assets set to be sold include five different Grayscale Trusts valued at $691 million as well as holdings of a Bitwise-managed trust valued at $53 million.</p>
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    Source: FTX/Court Filing
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 <p>At time of writing, SOL is trading for $61.19, up over 512% on the year.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ftx-related-solana-address-unstakes-90-000-000-worth-of-sol-as-ethereum-rival-s-rally-stalls-lookonchain-tbt72712.html">https://thebittimes.com/ftx-related-solana-address-unstakes-90-000-000-worth-of-sol-as-ethereum-rival-s-rally-stalls-lookonchain-tbt72712.html</a></p>

FTX-Related Solana Address Unstakes $90,000,000 Worth of SOL As Ethereum Rival’s Rally Stalls: Lookonchain

TheBitTimes

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