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Alameda moves another $15M in Solana as traders watch for market impact

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Alameda moves another $15M in Solana as traders watch for market impact - 1

Alameda Research’s bankruptcy estate has distributed another $15 million worth of Solana to creditors, extending a repayment process that has now been running for nearly two years.

Summary

  • Alameda Research’s bankruptcy estate distributed roughly $15.6 million in Solana to creditors in its latest monthly payout, extending a repayment process that has run for 21 months.
  • Despite ongoing distributions, Alameda still holds nearly $315 million worth of SOL on-chain, keeping traders alert to potential supply overhang risks.
  • Most of Alameda and FTX’s SOL was previously sold through OTC deals in 2024, with remaining distributions being handled gradually to limit market impact.

According to blockchain data highlighted by Arkham, the latest monthly tranche involved the transfer of roughly $15.60 million in Solana (SOL) to 25 separate addresses.

The movement forms part of a structured distribution program that has been ongoing for 21 months following the collapse of FTX and its trading arm, Alameda Research.

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Despite the steady outflows, Alameda’s on-chain wallets still hold approximately $314.95 million worth of SOL, keeping the estate among the largest known holders of the token tied to the defunct exchange empire.

Alameda moves another $15M in Solana as traders watch for market impact - 1
Alameda Research crypto holdings | Source: Arkham

Market impact questions resurface

The renewed transfers have reignited debate over whether these distributions ultimately translate into sell pressure on the open market.

Arkham raised the question directly, asking whether the newly distributed SOL would be “SOLd straight into the market,” a concern that has repeatedly surfaced during prior repayment rounds.

While the latest tranche is relatively modest compared to Alameda’s historical holdings, traders remain sensitive to any supply overhang tied to creditor payouts, particularly during periods of broader market volatility.

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Solana’s native token has been volatile in recent months, trading near the low-to-mid $80s to low $90s range after pulling back from higher levels seen in 2025.

Where Alameda’s SOL went

Additional context was provided by analyst Emmet Gallic, who traced the fate of the bulk of Alameda and FTX’s Solana holdings.

According to the analysis, roughly 43 million SOL was largely sold through over-the-counter deals across three major tranches in 2024, limiting direct market disruption.

Those sales included 26 million SOL at $64 to buyers such as Galaxy, Pantera, Jump, and Multicoin; 14 million SOL at $95 through a Pantera-led consortium; and a further 2 million SOL at $102 involving Figure Markets and Pantera.

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Since those OTC sales, remaining SOL distributions have been handled gradually, suggesting a continued effort to balance creditor repayments with market stability. Still, with more than $300 million in SOL left on-chain, Alameda-linked movements are likely to remain a point of close scrutiny for Solana traders in the months ahead.

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Crypto World

Franklin Templeton Expands Crypto Arm With CoinFund Deal

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Franklin Templeton Expands Crypto Arm With CoinFund Deal

Global asset manager Franklin Templeton is set to expand its crypto footprint by acquiring a spinoff of the crypto-native investment firm CoinFund.

Franklin Templeton said Wednesday it plans to acquire 250 Digital, a CoinFund spinoff that runs liquid crypto investment strategies, expanding the asset manager’s digital asset business. The deal will form part of a new unit called Franklin Crypto once it closes.

The move follows CoinFund’s decision earlier this year to spin out its liquid strategies business into 250 Digital as the company sharpened its focus on venture investing.

Christopher Perkins will lead the new Franklin Crypto, and Seth Ginns will serve as chief investment officer alongside Franklin Templeton digital assets veteran Tony Pecore, as the company broadens its crypto investment platform for institutional clients.

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The deal will incorporate BENJI tokens, which represent ownership shares in the Franklin OnChain US Government Money Fund (FOBXX), a regulated money market fund tokenized by Franklin Templeton in 2021.

Acquisition involves all liquid strategies previously run by CoinFund

Franklin said the undisclosed transaction includes the 250 Digital investment team and all liquid cryptocurrency strategies previously run by CoinFund, and that it will also invest in those strategies as part of the agreement.

The transaction is expected to close in the second quarter of 2026, subject to the execution of definitive transaction agreements, client consents and other customary closing conditions.

Source: Franklin Templeton Digital Assets

Franklin Templeton’s digital asset arm manages around $1.8 billion in assets and is a major institutional player in the crypto industry, where it has been building a presence since 2018.

The company is known for being one of the first to launch a US-listed spot Bitcoin ETF alongside other major asset managers such as BlackRock in 2024.

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Related: Franklin Templeton, Ondo to launch tokenized ETFs with 24/7 trading via crypto wallets

The acquisition comes during a prolonged slump in the crypto market, with Bitcoin down around 45% from its peak above $126,000 recorded in October 2025.

However, Franklin Templeton says the environment is attracting talent and creating opportunities to build long-term infrastructure.

Franklin’s head of innovation, Sandy Kaul, told The Wall Street Journal the recent market selloff helped create an opening to expand.

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“This big selloff that we had in the crypto markets is creating a very unique opportunity that really made us all decide that this is the right time to pull the trigger,” Kaul said.

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