Solana (SOL): Alameda liquidators control hundreds of millions of dollars of the token

Solana Compass is a platform dedicated to monitoring the main on-chain measures of the Solana network. Recent data from the platform revealed that the blockchain is tied to an SBF company in a big way. Here’s what Solana Compass reveals about SOL’s handling of hundreds of millions of dollars.

Over $600 million in SOL frozen in Alameda accounts

Solana Compass Data indicate that trading firm Alameda Research controlled 48,636,772 SOL tokens. This means that Sam Bankman-Fried’s currently bankrupt company was managing more than $643 million of SOL. This SOL reserve is currently managed by the liquidators of Alameda Research, as part of the company’s bankruptcy process. It should remain frozen until the process is complete.

According to the on-chain analysis platform, the entire reserve of SOL could be unlocked in the first half of 2025. Separately, Solana Compass reported that previously Alameda Research was the largest holder of staking locked SOLs.

You should know that lately, the price of SOL has dropped. Solana is down nearly 95% from its all-time high of $259. Rumors are circulating that the blocked SOL reserve could be a big source of selling pressure.

Solana Compass maintains that Alameda no longer holds any SOL tokens

On November 25, a Twitter user said, “Sam Bankman-Fried’s Alameda Research currently owns 13.25% of all Solana tokens in circulation“. He added a graphic to support his point. Solana Compass reacted to the tweet claiming that the user’s comments are unverified.

Solana Compass explained: “Alameda no longer owns the SOL, the liquidators do. The SOL on the chart is blocked and cannot be sold, often for many years. Either way, Chapter 11 means nothing can be sold until the bankruptcy is over, which can take over 10 years.“.

Solana Compass’s response

On-chain analytics platform Solana Compass reported that SOL tokens held by Alameda Research are locked in staking. Therefore, they cannot be offered for sale on the open market. Solana Compass specifies that the tokens are not currently in circulation.

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