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$600 million worth of Solana locked in FTX bankruptcy estate

After FTX's bankruptcy, $600 million in SOL is now in the hands of Alameda Research's curators.

By Mike Hesp
• 2 min read
$600 million worth of Solana locked in FTX bankruptcy estate

After FTX's bankruptcy, $600 million worth of SOL is now in the hands of Alameda Research's curators.

Sam Bankman-Fried's bankrupt company Alameda Research had filed for bankruptcy on November 11, 2022. Now the remaining assets of the company are in the hands of the liquidators.

How big the bankrupt estate is exactly and how it will ultimately be formed is not yet known. Solana Compass, an analytics platform that tracks the main on-chain data for Solana, has now determined that 48 million SOL tokens (SOL) valued at more than $643 million are included in Alameda Research's bankruptcy estate.

According to the platform, the SOL holdings are now subject to insolvency proceedings and will likely remain frozen until the liquidation process is complete. "Alameda no longer owns the SOL, the trustees do. The SOL are frozen and cannot be sold," according to Solana Compass.

Currently there are about 500 million SOL in total. Of that, 48 million are now frozen in Alameda Research's bankruptcy estate. That's nearly 1/10 of the total coins. The bankruptcy has drawn a lot of publicity. Now Amazon even plans to film the debacle."Amazon even plans to film the debacle.

How FTX and Alameda caused the Solana collapse is explained here.

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