Alameda Research Transfers $16 Million SOL to FTX Creditor Wallet

Alameda Research, a sister company of defunct crypto exchange FTX, has made another significant transfer as part of its ongoing repayment plan. According to on-chain data tracked by Arkham Intelligence, Alameda's staking account transferred approximately 198,425 SOL worth around $16.18 million to an FTX-linked bankruptcy wallet.

The transfer is a key component of the $12.7 billion repayment plan ordered by a New York court, with $7.6 billion already paid and about $5.1 billion remaining. This move is not the first time Alameda has unstaked large amounts of Solana; earlier in March 2023, it also transferred $17 million worth of SOL.

The bankruptcy team's approach to avoid a sudden crash in SOL price by splitting the total amount into smaller parts and moving them through different wallets appears to be paying off. Despite this transfer, Alameda still holds around 3.57 million SOL, valued at over $293 million. The current SOL price is trading near $81.93 after experiencing a 1% drop in the last 24 hours.