The estate of the now-defunct crypto exchange FTX has reportedly staked 5.5 million Solana (SOL) tokens, worth approximately $121 million USD.
This follows a court filing that highlights the substantial SOL holdings owned by the FTX estate.
FTX Stakes Solana Following Approval of Liquidation Process
A user on X (formerly Twitter) initially discovered the transaction, which is visible on Solana.fm under the wallet name ‘Alameda’.
The staked amount comprises 5.55 million SOL tokens, worth approximately $121.17 million.
Staking means that the tokens are locked up for a certain amount of time, in return for passive income, similar to a bank term deposit. The locked tokens actively contribute to sustaining the blockchain’s operation.
At the time of publication, SOL’s price stands at $22.03.
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Author: Ciaran Lyons
Author: Ciaran Lyons
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