Addresses affiliated with bankrupt FTX and Alameda have unstaked 3.03 million SOL worth $431 million. Of that amount, 24,799 tokens (~$3.38 million) were transferred to Binance, according to Lookonchain analysts.

Of the 3.03M $SOL($431.3M) unstaked by FTX/Alameda today, 24,799 $SOL($3.38M) has been deposited to #Binance.https://t.co/D4j4l4yNuF https://t.co/uLkjQFwVId pic.twitter.com/ig2Jl2CcXl
— Lookonchain (@lookonchain) March 4, 2025

Data from Spot On Chain shows that the companies distributed SOL across 37 wallets. This is the largest unstaking event since November 2023, when FTX and Alameda unlocked 2.1 million SOL worth $141 million.

FTX/Alameda unstaked and distributed 3.03M $SOL ($432.5M) to 37 wallets, likely for deposits to #Coinbase and #Binance ~3 hours ago!

This is FTX/Alameda’s largest unstake since November 2023 and likely part of the 11.2M $SOL (~$1.5B) set to be unlocked in early March.

Since… pic.twitter.com/VfTf5j50GG
— Spot On Chain (@spotonchain) March 4, 2025

In total, the firms unstaked 7.83 million SOL (~$986 million). Analysts claim that most of the tokens were sold via Binance and Coinbase at an average price of $125.8 per coin.

On February 18, former FTX customers with assets under $50,000 began receiving their first payouts through Kraken and BitGo.