As per insights from Ashpool, a prominent figure in the field of cryptocurrency research, FTX Estate has embarked on a staking endeavor involving 5.5 million SOL tokens. Ashpool's statement cited a previous report by Whale Alert, which highlighted an SOL transaction valued at 5,546,217 SOL, equivalent to a staggering $121,255,031, occurring between two undisclosed wallets.
Ashpool's alert has sparked a discussion among numerous cryptocurrency enthusiasts, with many seeking to grasp the reasoning behind the recent moves made by the FTX estate. In response to Ashpool's post, a user going by the name 'rpc mert' recollected a statement made by Caroline Ellison, a prominent associate of SBF. According to 'rpc mert,' Ellison had mentioned that FTX had SOL tokens locked within the project's network.
Ellison reportedly made this declaration during an "all-hands" meeting related to the SBF trial, which took place on November 9, 2022.
Rpc Mert inferred from Ellison's statement that it implied two significant points. Firstly, FTX had no direct communication with Solana, and secondly, Solana had rebuffed their attempts to establish contact.
The recent staking transaction conducted by the FTX estate stands out as the second-largest Solana Stake Flow since April, as evidenced by a screenshot shared by Ashpool. The most substantial transaction during this timeframe involved the withdrawal of 7,787,430 SOL tokens from the staking pool on July 25, 2023. Apart from that, the recent deposit made by the FTX estate represents the largest addition to the staking pool since April.
The FTX estate is responsible for overseeing the bankruptcy proceedings and restructuring of what was once a bustling cryptocurrency exchange. As of last September, the group disclosed holdings of $1.16 billion in Solana (SOL), which accounted for approximately 16% of Solana's total market capitalization, and $560 million in Bitcoin (BTC).
