FTX/Alameda redemption activity was flagged by on-chain analyst Yu Jin, who identified a withdrawal of 192,000 SOL (about $43.56 million) from staking roughly seven hours ago; the unstaked tokens were redistributed across multiple addresses, reflecting prior on-chain consolidation patterns. Historically, recipient addresses have often routed funds to major exchanges such as Coinbase and Binance, consistent with observed custody flows.

Since November 2023, the entity’s staking address has liquidated and transferred approximately 8.98 million SOL (near $1.202 billion) using similar distribution methods, at an average transfer price of $134, while roughly 4.184 million SOL (about $960 million) remains actively staked on-chain.