A Solana address linked to FTX unstakes $90 million worth of SOL
An address associated with the now-defunct crypto exchange FTX has unstaked 1.5 million SOL, equivalent to $90 million, according to on-chain data. The address, starting with “4Axqyo,” transferred the unstaked SOL to another address. Subsequently, the receiving address sent around $250 million worth of SOL to Coinbase. Lookonchain suggests that the address “3vxheE” is likely an internal Coinbase address used for handling deposits before storing the coins securely. FTX’s estate is currently selling off its remaining assets to compensate its debtors. Recently, a Delaware court granted permission to sell $744 million worth of trust assets associated with Grayscale and Bitwise.
Hot Take: FTX-related Solana address unstakes $90 million as Solana’s rally slows down
An address potentially linked to FTX has withdrawn $90 million worth of SOL from staking, as per on-chain data. The funds were transferred to another address and subsequently sent to Coinbase in a transaction worth nearly a quarter billion dollars. This move comes as Solana’s rally shows signs of slowing down. FTX, which is in the process of selling its remaining assets, has been granted permission by a Delaware court to sell trust assets associated with Grayscale and Bitwise worth $744 million. Solana’s price currently sits at $61.19, reflecting an impressive 512% increase this year.
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