破产加密交易所FTX脱落并分发186,000 SOL令牌

在适合其每月资产清算模式的转变中，破产的加密交易所FTX及其姊妹贸易公司Alameda Research再次开始大规模转移Solana（SOL）（SOL）

In a development that aligns with the bankrupt crypto exchange FTX and its sister trading company Alameda Research’s monthly asset liquidation pattern, they have once again begun a large-scale transfer of Solana (SOL) from their staking reserves.

在与破产的加密交易所FTX及其姊妹贸易公司Alameda Research的每月资产清算模式相吻合的开发中，他们再次从储藏储备中开始大规模转移Solana（Sol）。

About six hours ago, they unstaked and spread across 22 separate addresses 186,000 SOL tokens valued at about $21.56 million. This follows a long-established pattern of on-the-10th-of-the-month moves that increasingly look like a systematic, strategic unwind of SOL holdings.

大约六个小时前，它们未固定并散布在22个单独的地址，价值约2156万美元。这遵循了十分季节的悠久模式，看起来越来越像系统的，战略性的溶液持有量。

FTX/Alameda 每月十来号的固定 SOL 转出时间：6 小时前将从质押中赎回的 18.6 万枚 $SOL ( $2156 万) 分发转移给 22 个地址。根据此前记录，多数收到 SOL 的地址后续会 SOL 转进 Coinbase 或 Binance。

FTX/Alameda 质押地址从 2023 年 11 月以来，已经通过上面这种方式累计赎回并转出了 803.1 万枚… https://t.co/GT7Oot1k1Ppic.twitter.com/bUo49WvAmP

— 余烬 (@EmberCN) April 11, 2025

Many see the unstaking and redistribution as preparation for a liquidation of assets. This view is supported by the historical record of past transactions, which shows a clear trend: when FTX and Alameda send Solana to other addresses, those addresses almost always send the Solana on to centralized exchanges such as Coinbase and Binance. Market analysts watch these movements closely, and for good reason. They happen to precede some of the biggest sell-offs in Solana that we have seen all year.

许多人认为不存储和重新分配是准备资产清算的准备。过去的交易的历史记录支持了这种观点，这表明了一个明显的趋势：当FTX和Alameda将Solana发送到其他地址时，这些地址几乎总是将Solana发送到集中的交易所，例如Coinbase和Binance。市场分析师密切关注这些运动，这是有充分理由的。它们恰好是我们一年四季见到的Solana中一些最大的抛售。

A Billion-Dollar Exit Strategy

十亿美元退出策略

Starting in November 2023, the estate of FTX/Alameda has executed transfers with notable consistency. In total, they have unstaked and staked back to the system 8.031 million SOL tokens. At current valuations, that represents about $1.03 billion. The transfers into the centralized exchanges have occurred at an average price of $128.30 per SOL token. With the price of SOL ranging from about $108 to $148 during the various phases of this market, these transfers do not seem to correlate with some kind of artificial price movement. They simply appear to be regular transfers.

从2023年11月开始，FTX/Alameda的遗产以显着的一致性执行了转让。总的来说，他们将其固定并固定回系统803100万个SOL令牌。目前的估值约为10.3亿美元。转移到集中式交易所的平均价格为每个SOL令牌$ 128.30。在这个市场的各个阶段，SOL的价格从108美元到148美元不等，这些转移似乎与某种人工价格变动无关。它们似乎只是常规转移。

Despite being intended to maximize recovery amounts for creditors, the series of large-scale redemptions from the FTX estate have vexed SOL holders and traders. It’s definitely not a good look when you’re trying to maintain the price of an asset. Each time creditors cash out, they do so with substantial amounts of SOL. Pressing the sell button on FTX’s preferred asset is the very definition of a red flag. These funds are supposed to go to judges, attorneys, and creditors, not to FTX execs and SOL ding-a-lings. I mean really: Who in their right mind would work this hard for the creditors if they weren’t already cruising for a big payoff?!

尽管打算最大限度地提高债权人的恢复金额，但FTX遗产的一系列大规模赎回还是有些烦恼的溶胶持有人和交易者。当您试图维持资产价格时，这绝对不是一个好外观。每次债权人兑现时，他们都会以大量的溶胶质量进行。在FTX首选资产上按销售按钮是危险信号的定义。这些资金应该用于法官，律师和债权人，而不是FTX高管和Sol Ding-a-lings。我的意思是真的：如果债权人还没有为巨大的回报，他们的正确脑海中谁会为债权人努力吗？

As it stands, FTX/Alameda controls a considerable amount of staked SOL, which amounts to 5.359 million tokens. That is worth about a half a billion dollars. And, if you can believe it, this is a picture of what we have left. Meaning, if I were FTX, I would be doing what you see in the picture above.

就目前而言，FTX/Alameda控制着大量的固定液，相当于535.9万个令牌。这价值约五十亿美元。而且，如果您可以相信，这就是我们剩下的图片。意思是，如果我是ftx，我将在上面的图片中做您看到的事情。

In other words, don’t expect this part of the Recovery Plan to be completed anytime soon. Expect the going-concern nature of FTX to be factored into the picture of what comes next.

换句话说，不要指望恢复计划的这一部分很快就会完成。期望FTX的出现性质会纳入接下来发生的事情的情况下。

The digital assets held by FTX have been steadily liquidated since the exchange’s spectacular collapse in November 2022. Billions in frozen user funds were tied up across trading accounts at the time. Founder Sam Bankman-Fried’s financial mismanagement and the global fallout from it have been the main story of the last eight months. While the court cases move forward, though, the estate of the exchange has been granted permission to sell off digital assets to pay back creditors. And if I’m doing the fractions correctly, the SOL represents one of the largest individual holdings in FTX’s pre-bankruptcy portfolio.

自2022年11月交易所崩溃以来，FTX持有的数字资产已稳步清算。当时的交易帐户中，数十亿美元的冷冻用户资金被捆绑在一起。创始人山姆·班克曼（Sam Bankman）的金融管理不善及其全球影响是过去八个月的主要故事。但是，尽管法院案件向前迈进，但交易所的财产已获得许可，以出售数字资产以偿还债权人。而且，如果我正确地进行分数，则SOL代表了FTX前破产前组合中最大的个人持有量之一。

Implications for the Solana Ecosystem

对Solana生态系统的影响

These SOL liquidations occurring en masse and in a steady flow have complicated matters for the overall Solana ecosystem. Although, in other respects, things seem to be on an upward trajectory for Solana—network expansion, developer involvement, and observable on-chain activity move in the right direction—the unfailing flow of unstaked SOL into exchanges means Solana’s native asset is still working its way back from the low it hit as part of the fallout from its unfortunate close association with FTX.

这些溶胶清算发生在稳定的流动中，对于整体溶剂生态系统来说是复杂的事情。尽管在其他方面，事物似乎正处于Solana的向上轨迹 - 网络扩展，开发人员的参与以及可观察到的链上活动朝着正确的方向移动 - 未固定的SOL进入交换的持续不断的流动意味着Solana的本地资产仍在与Ftx的不幸关闭关联的一部分中恢复过来。

FTX’s implosion caused a significant blow to Solana’s reputation. Sam Bankman

FTX的内爆对Solana的声誉造成了重大打击。山姆·班克曼（Sam Bankman）