Alameda Estate Distributes $15M in SOL to Creditors in Latest Monthly Payout

Alameda Research’s estate has continued its steady repayment process with a new distribution of Solana (SOL) tokens to creditors. In its latest monthly tranche, the estate moved about $15.60 million worth of SOL to 25 separate wallet addresses.

According to a recent announcement, the transfers are part of an ongoing effort to return funds following the firm’s collapse in November 2022. The repayment process has now lasted for 21 months.

Alameda Holds SOL Worth Nearly $315M

Interestingly, blockchain data reveals that these payments are being handled in regular batches rather than a single large payout. This approach manages and controls the repayment process. Currently, the repayment process appears to be moving forward in an organized way.

As of now, Alameda holds approximately $314.95 million in SOL across its on-chain wallets. This large amount has raised several questions in the crypto space, causing mixed reactions from users. While some see the move as slow and steady, others wonder if they are just trying to keep the bid alive.  

The latest $15 million SOL distribution shows that the estate remains committed to returning funds while retaining its remaining holdings.

So far, there has been no clear proof that all distributed tokens are entering the open market at once. Some creditors may prefer to keep the assets for long-term investment, while others could sell to recover losses or secure cash. Because the funds are spread across many addresses, tracking exact selling behavior can be difficult.

Crypto Community Reacts to Ongoing Legal and Market Updates

Furthermore, users are also considering the broader impact of these transactions. A gradual distribution could help prevent sharp price swings, however the ongoing token releases still add to the overall supply.

Although the latest announcement did not impact the price of SOL, the asset has seen major declines in the past week. Aside from SOL, prominent coins like BTC, ETH, and BNB are also affected. They have traded in the red zone in recent times. SOL is currently trading at $80.51, according to CoinGecko.  

Meanwhile, the disgraced owner of Alameda, Sam Bankman-Fried, who is the mastermind behind the fall of his company, FTX, has received a reduced prison sentence.

According to a CoinTab report, the United States’ Federal Bureau of Prisons (BOP) stated that Bankman-Fried will be released in 2044. The agency’s decision has erased roughly four and a half years from his 25-year prison sentence.

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