FTX Estate withdraws 1.1 million SOL tokens to repay users in its second year

FTX reveals the amount of compensation for users in the second round.

According to on-chain data tracked by Solana Beach, Solscan, and Whale Alert on March 12-13, 2026, the bankrupt FTX asset pool withdrew approximately 1.1 million SOL (approximately $165-170 million USD at current prices) from Solana's original staking program.

This move comes as FTX's bankrupt estate enters its second year of paying off creditors under a court-approved plan and coincides with the estate's ongoing efforts to liquidate non-core assets to finance its massive payment schedule of over $16 billion to creditors.

• Amount of SOL not yet staked: ~1,100,000 SOL (exact figures: 1,098,742–1,102,315 SOL across multiple withdrawals from validators)

• Related wallets: Primarily linked to known FTX/Alameda Recovery Group addresses (tagged by Arkham, Nansen, and Solscan)

• Status after deposit cancellation: The majority of SOL has been transferred to the deposit addresses of centralized exchanges ( primarily Binance, Coinbase, Kraken, and OKX) or to decentralized over-the-counter (OTC) wallets.

This withdrawal represents approximately 1.4–1.6% of the total reported SOL of the asset portfolio (estimated at around 68–75 million SOL at various points during the recovery process) and is one of the largest withdrawal events since repayment began in early 2025.

Why does FTX still hold a large amount of SOL ?

Prior to its collapse in 2022, FTX was closely tied to the Solana ecosystem. The exchange and its affiliate Alameda Research were among Solana's earliest investors and accumulated a significant amount of SOL tokens.

These positions became part of the bankrupt asset pool after the exchange's failure, making SOL one of the largest cryptocurrency assets held by administrators responsible for repaying creditors. Due to the scale of these holdings, every major move in the FTX asset pool's SOL attracts significant market attention.

Regarding the ongoing bankruptcy proceedings

The FTX bankruptcy process focuses on recovering and liquidating assets to repay debts to customers, investors, and other creditors affected by the collapse of the exchange.

Since late 2023, administrators have gradually begun distributing recovered funds to claimants. This process is expected to continue for several years due to the complexity of asset recovery and legal procedures across multiple jurisdictions. The withdrawal of SOL from its purchase position will provide additional liquidity, which can be used to support subsequent repayment periods for creditors.

Solana's continued recovery after the collapse of FTX.

The Solana ecosystem suffered significant damage when FTX collapsed due to its close ties to the exchange. Many early investors were concerned that the forced liquidation of large amounts of SOL would destabilize the network's token economy.

Despite these concerns, the Solana ecosystem has gradually recovered, with increasing developer activity, new decentralized applications, and renewed investor interest in the network. However, the unlocking of FTX-related tokens remains a key factor that traders are closely monitoring.

Our review

The withdrawal of 1.1 million SOL is a routine—albeit a substantial—step in the long-standing debt repayment process for FTX's asset class. While this generated brief media attention, the overall trend remains clear: selling pressure is easing, and Solana's fundamentals (developer activity, credit default value, actual integration) continue to strengthen. For SOL holders, this is not a structural threat but a recurring (and increasingly predictable) event on the long road back to full market normalcy following FTX.

Disclaimer: The information presented in this article is the author's personal opinion in the field of cryptocurrency. This is not financial or investment advice. All investment decisions should be based on careful consideration of your personal portfolio and risk tolerance. The views expressed in this article do not represent the official stance of the platform. We recommend that readers conduct their own research and consult with experts before making any investment decisions.

Compiled and analyzed by HCCVenture

Follow HCCVenture here: https://link3.to/holdcoincventure