According to Solana Compass, Sam Bankman-Fried Fried’s trading company Alameda Research no longer owned 48,636,772 SOL tokens, which were currently worth over $643 million.
Solana Compass quickly addressed rumors that the enormous SOL stash could be a source of intense selling pressure given that Solana has lost approximately 95% of its value from its peak of $259.
The platform claims that the SOL stash is now subject to chapter 11 bankruptcy and that it will likely remain frozen until the liquidation process is finished. In particular, the SOL tokens are in locked stake, which prevents any of them from being sold on the open market because the coins are currently not in circulation.
Besides, Alameda Research held the most SOL locked (48,648,493 SOL) in a staked account as of the time of Solana Compass‘ reporting representing 65.3% of all locked stakes. It is unlikely this stake will immediately move once unlocked until the liquidation process is completed, which tends to take as much as ten years to complete.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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