- FTX staked $45M in SOL from cold wallets.
- Alameda deposited $80M in ETH to staking provider Figment.
- Moves raise concerns over customer repayment priorities.
FTX and Alameda Research, once crypto giants and now bankrupt entities, are back in the spotlight after blockchain data revealed $125 million worth of ETH and SOL being staked. The move has reignited public frustration, especially from those still waiting for repayment following FTX’s 2022 collapse.
According to on-chain data, FTX’s cold storage staked $45 million worth of Solana (SOL) last night. At the same time, addresses linked to Alameda Research deposited $80 million in Ethereum (ETH) to staking service provider Figment. These developments appear to be part of a broader strategy to generate yield from remaining digital assets—but they’re stirring controversy.
A Strategic Move or a Misstep?
From a restructuring standpoint, staking can be seen as a way to maximize asset value while legal proceedings unfold. By earning passive income through ETH and SOL staking, estate managers might aim to recover more capital over time for creditors.
However, for customers still waiting to retrieve their frozen funds, the optics are poor. Many see the move as prioritizing long-term profit over immediate restitution. The perception of FTX and Alameda using billions in user funds for strategic gain rather than direct repayment is deepening mistrust.
Legal experts suggest that while staking isn’t illegal, the timing and lack of public communication worsen the situation. It highlights the thin line between asset management and fiduciary responsibility in bankruptcy cases.
What’s Next for Creditors?
FTX’s estate has been slowly recovering assets through sales, settlements, and now staking. Yet, there’s still uncertainty around how much creditors will actually receive and when. While staking could generate extra returns, it also introduces market and protocol risk that could further complicate the estate’s financial situation.
The crypto community is keeping a close eye on how these assets are managed. For many affected users, the priority remains clear: pay back what’s owed—before growing what’s left.
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