According to @EmberCN, FTX/Alameda executed its recurring mid-month transfer, unstaking and distributing 190,000 SOL (about $34.09M) to 29 addresses around six hours ago. According to @EmberCN, historical records show most of these recipient addresses subsequently deposit SOL to Coinbase or Binance, signaling exchange-bound flows. According to @EmberCN, this redeem-and-distribute approach has been used since November 2023.

According to @AltcoinGordon on Twitter, FTX and Alameda have unstaked another 187,625 SOL tokens, valued at $32.24 million, on May 12, 2025 (source: @AltcoinGordon). This significant movement increases the circulating supply of Solana, raising concerns about potential sell pressure in the near term and impacting SOL price volatility. Traders should closely monitor on-chain activity and order books for potential large-volume transactions, as such events have previously led to increased short-term volatility and trading opportunities in the Solana market.