Last updated: Nov. 21, 2022 This page is meant to provide real time information and updates in the wake of recent events surrounding the commencement of Chapter 11 voluntary bankruptcy proceedings of FTX Trading Ltd., Alameda Research Ltd., and affiliated entities (“FTX/Alameda”).Our main focus remains supporting builders and users who were affected. We will continue to update this with additional information as needed. The Solana network Solana Foundation balance sheet exposure to FTX/Alameda Solana Foundation asset exposure to FTX/Alameda As of 11/14/22, the Solana Foundation has exposure to the below assets in connection with the transactions with FTX/Alameda specified below. These assets were held on FTX.com accounts (and continue to be held there) as of 11/6/22 when FTX.com ceased to process withdrawals. While we do not have visibility into FTX/Alameda’s current balance sheets, we can confirm the below transactions. Solana Foundation transactions with FTX/Alameda FTX/Alameda first purchased SOL from Solana Foundation in August of 2020, six months after Mainnet Beta launched. Below is a summary of Solana Foundation’s SOL sales to FTX/Alameda.
Entity | Counterparty | Effective Date | # of SOL | Unlock Schedule |
Solana Foundation | Alameda Research Ltd | August 31, 2020 | ◎4,000,000 | N/A |
Solana Foundation | Alameda Research Ltd | September 11, 2020 | ◎12,000,000 | Linear monthly unlock from September 2021 to September 2027 |
Solana Foundation | Alameda Research Ltd and FTX Trading Ltd. | January 7, 2021 | ◎34,524,833 | Linear monthly unlock from January 2022 to January 2028 |
Solana Labs, Inc.’s transactions with FTX/Alameda Below is a summary of Solana Labs, Inc.’s SOL sales to FTX/Alameda.
Entity | Counterparty | Effective Date | # of SOL | Unlock Schedule |
Solana Labs, Inc. | Alameda Research Ventures Ltd. | February 17, 2021 | ◎7,500,000 | Full balance unlocks on March 1, 2025 |
Solana Labs, Inc. | Alameda Research Ventures Ltd. | May 17, 2021 | ◎61,853* | Full balance unlocks on May 17, 2025 |
*not yet settled In light of the voluntary Chapter 11 bankruptcy proceedings that FTX/Alameda announced on November 11, we do not know how these and other FTX/Alameda’s assets will be settled in the aftermath of the Chapter 11 proceedings. Locked Tokens on Solana Wrapped assets on Solana affected by Sollet custodial bridge Status of Serum, an order book DeFi project built on Solana Status of the DeFi ecosystem on Solana The current state of liquidity support / market making on Solana Unstaking of SOL as of Epoch 370 on Thursday, November 10 Update History: Nov. 21: Added Solana Foundation asset information and clarification about USDC and USDT on Solana. Nov 15: Added Update History section Nov 14: Added Solana Foundation’s and Solana Labs’ historical transactions with FTX/Alameda, definition of locked tokens Nov 13: Added Solana Foundation exposure to FTT, SRM, and FTX Trading Ltd. equity Nov 11: Added information on wrapped assets Nov 10: Added information on how key control works for unstaking Nov 9: Initial publication of epoch boundary unstake information