FTX Moves 4.263 Million SOL to Exchanges as Unstaking Plan Continues

According to a report from COINOTAG on December 12, 2023, extensive monitoring by Spot on Chain indicates that FTX has executed transfers totaling 4.263 million SOL to Binance and Coinbase through 20 distinct addresses since November. These transactions were completed at an average price of $106.68 per token during the transfer period. Presently, FTX retains a significant holding of 6.617 million SOL, approximating a valuation of $1.53 billion. The firm is poised to continue its strategy of unstaking approximately 170,000 SOL each month as part of its ongoing financial maneuvers. This systematic approach underscores FTX’s intent to manage its assets effectively within the evolving cryptocurrency landscape.