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News

FTX Trustee Stakes $121M in SOL via Figment, Alameda Locks $1.23B

October 14, 2023 - Around 2 mins mins to read

Key Points:

  • TX trustee stakes 5.5 million SOL, securing impressive returns through Figment.
  • Over 42.16 million SOL locked from FTX Group’s 55.86 million SOL.
FTX trustee has undertaken significant staking activities.
FTX Trustee Stakes $121M in SOL via Figment, Alameda Locks $1.23B

On the 14th, the FTX trustee estate successfully staked a substantial 5.5 million SOL, equivalent to a staggering $121 million, through Figment. This move has drawn attention, especially within the crypto investment community, as it signals a potentially lucrative avenue for the estate’s assets.

The staking of 5.5 million SOL via Figment has been accompanied by a promising 6.99% annual percentage yield (APY). This appealing yield rate has further added to the overall attractiveness of the staking initiative, potentially serving as a strong impetus for similar maneuvers within the industry.

Alameda’s Lockdown Strategy

FTX Trustee Stakes $121M in SOL via Figment, Alameda Locks $1.23B

FTX trustee presently holds an impressive 55.86 million SOL, equivalent to a substantial $1.23 billion. Intriguingly, a significant portion of this SOL, specifically more than 42.16 million, is under the ownership of Alameda, a prominent cryptocurrency trading firm, and remains locked.

The decision to lock such a substantial portion of their holdings underscores the strategic approach taken by Alameda, demonstrating a commitment to long-term investment and fostering stability within the crypto space. Furthermore, it highlights the growing trend among prominent entities within the cryptocurrency domain to explore innovative mechanisms to maximize returns while strategically managing risk.

Given the ever-evolving nature of the cryptocurrency market and the increasing interest in staking activities, the actions undertaken by the FTX trustee estate and Alameda set an encouraging precedent. As stakeholders continue to navigate the dynamic landscape of digital assets, such strategic moves can potentially contribute to the overall maturation and stability of the crypto market, encouraging a more sustainable and secure environment for investors and users alike.

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.

Alameda

figment

FTX Trustee

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
News

FTX Trustee Stakes $121M in SOL via Figment, Alameda Locks $1.23B

Key Points:

  • TX trustee stakes 5.5 million SOL, securing impressive returns through Figment.
  • Over 42.16 million SOL locked from FTX Group’s 55.86 million SOL.
FTX trustee has undertaken significant staking activities.
FTX Trustee Stakes $121M in SOL via Figment, Alameda Locks $1.23B

On the 14th, the FTX trustee estate successfully staked a substantial 5.5 million SOL, equivalent to a staggering $121 million, through Figment. This move has drawn attention, especially within the crypto investment community, as it signals a potentially lucrative avenue for the estate’s assets.

The staking of 5.5 million SOL via Figment has been accompanied by a promising 6.99% annual percentage yield (APY). This appealing yield rate has further added to the overall attractiveness of the staking initiative, potentially serving as a strong impetus for similar maneuvers within the industry.

Alameda’s Lockdown Strategy

FTX Trustee Stakes $121M in SOL via Figment, Alameda Locks $1.23B

FTX trustee presently holds an impressive 55.86 million SOL, equivalent to a substantial $1.23 billion. Intriguingly, a significant portion of this SOL, specifically more than 42.16 million, is under the ownership of Alameda, a prominent cryptocurrency trading firm, and remains locked.

The decision to lock such a substantial portion of their holdings underscores the strategic approach taken by Alameda, demonstrating a commitment to long-term investment and fostering stability within the crypto space. Furthermore, it highlights the growing trend among prominent entities within the cryptocurrency domain to explore innovative mechanisms to maximize returns while strategically managing risk.

Given the ever-evolving nature of the cryptocurrency market and the increasing interest in staking activities, the actions undertaken by the FTX trustee estate and Alameda set an encouraging precedent. As stakeholders continue to navigate the dynamic landscape of digital assets, such strategic moves can potentially contribute to the overall maturation and stability of the crypto market, encouraging a more sustainable and secure environment for investors and users alike.

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.