Solana

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<div class="cryptonews">
 <p class="is-style-lead">Bankrupt companies FTX and Alameda have <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a>red millions of Solana (SOL) tokens over the past two <a rel="noopener noreferrer nofollow" title="months" href="https://thebittimes.com/tag/months.html">months</a>.</p>
 <p>According to Spot On Chain, the two firms transferred 13.22 million SOL to the exchange between Oct. 24 and Dec. 14, 2023.</p>
 <p>The bankrupt exchange additionally possesses another 2 million SOL that can liquidated in the event of a sale.</p>
 <p>The token has no max supply and is instead governed by a fixed year-on-year inflation rate, with tokens unlocking on specific dates.</p>
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    <p lang="en" dir="ltr">$SOL is up ~17% in 24 hours and flips $BNB in market cap, but FTX &amp; Alameda is still a major holder.<br><br>Key on-chain stats <br><br>– They allegedly <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a>red 13.22M $SOL ($666M) to exchanges between Oct 24 to Dec 14, 2023.<br><br>– They may currently have 2M $SOL ($192M) available to… pic.twitter.com/2Hckt2A5uo</p>— Spot On Chain (@spotonchain) December 22, 2023
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 <p>The price of SOL is currently $91.3.</p>
 <p>At current rates, FTX and Alameda have <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a>red approximately $1.2 billion in SOL since liquidating. The companies still posses a cumulative value of $3.5 billion SOL at current market rates.</p>
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 <p>Since late October, companies have stepped up efforts to <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a> assets. In December, they moved $10.8 million worth of cryptocurrencies to crypto exchanges Binance, Coinbase and Wintermute. Eight tokens were used for the <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a>: StepN (GMT), Uniswap (UNI), Synapse (SYN), Fantom (FTM), Shiba Inu (SHIB), as well as Arbitrum (ARB) and Optimism (OP).</p>
 <p>The movement of funds from the FTX and Alameda Research wallets began in March, when the court approved a plan to return funds to investors. At the same time, $145 million worth of stablecoins were <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a>red to the Coinbase, Binance, and Kraken exchanges.</p>
 <p>In September, the court approved a plan to sell FTX’s digital assets to pay off creditors’ claims. According to the resolution, the exchange must liquidate at most $100 million worth of tokens per week for each position. However, with the approval of a special committee, the limit can be increased to $200 million, either on a one-time or ongoing basis. Thus, by mid-2024, exchange clients could receive claims payments of $9.2 billion.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ftx-and-alameda-transferred-over-13m-sol-in-the-last-two-months-tbt74499.html">https://thebittimes.com/ftx-and-alameda-transferred-over-13m-sol-in-the-last-two-months-tbt74499.html</a></p>

FTX and Alameda transferred over 13m SOL in the last two months

TheBitTimes

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