This summary text is fully AI-generated and may therefore contain errors or be incomplete.
A Solana address linked to the now-defunct crypto exchange FTX has unstaked $90 million worth of SOL, according to on-chain data. The address, starting with “4Axqyo,” unstaked 1.5 million SOL and transferred it to another address. FTX claims that the receiving address, “3vxheE,” is likely an internal address for Coinbase. This address then deposited 4.13 million SOL ($248.67 million) to Coinbase. Meanwhile, FTX is selling off its remaining assets to partially compensate its debtors. A court in Delaware has granted a motion allowing the debtors to sell $744 million worth of trust assets associated with Grayscale and Bitwise. These assets include various Grayscale Trusts valued at $691 million and holdings of a Bitwise-managed trust valued at $53 million. As of now, SOL is trading at $61.19, showing a significant increase of over 512% this year.