Alameda’s $15M Crypto Circus: The Show Must Go On!

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Key Highlights

  • In what can only be described as a financial game of hopscotch, Alameda Research has flung over $15 million in SOL to 25 non-governmental creditors, marking the 21st installment of their ongoing monthly distribution extravaganza.
  • This latest cash shower follows a reorganization plan so thoroughly approved in late 2024 that even the paperwork was high-fiving itself, promising creditors full repayment plus interest-because who doesn’t love a good plot twist?
  • And because nothing says “efficient liquidation” quite like converting nearly $25 million worth of STG tokens into ZRO, Alameda is engaging in a dance of digital currencies that would make even the most seasoned accountant break into a spontaneous jig.

In a move that has all the subtlety of a rhinoceros on roller skates, Alameda Research-sister firm of the now-mothballed FTX crypto exchange-has generously tossed $15 million in SOL to its creditors as part of their latest financial episode. This charming little distribution marks the 21st month of their ongoing saga, sending funds to 25 lucky addresses as if they were handing out party favors.

According to the ever-watchful eyes at Arkham, all these generous donations were dispatched via BitGo, a crypto custody provider so large it could probably house a small nation’s worth of digital currency. Onchain data reveals that this behemoth now holds over 3.933 SOL tokens, valued at approximately $317 million-just enough to buy a decent yacht or perhaps fund a small intergalactic adventure.

ALAMEDA DISTRIBUTING $15M SOL TO CREDITORS

Alameda Research’s estate just distributed $15M SOL to creditors in their latest monthly tranche. They moved out $15.60M SOL to 25 separate addresses, as part of continual distributions that have been ongoing for 21 months now.

Alameda…

– Arkham (@arkham) February 12, 2026

As part of the grand circus known as the FTX bankruptcy proceedings, Alameda’s estate has been engaging in extensive liquidation efforts since the spectacular collapse of 2022-think of it as a magician pulling rabbits out of hats, except these rabbits are assets and the hats are legal documents. The current transfers are being executed by court-appointed administrators, who’ve been given the Herculean task of selling and converting the firm’s vast crypto holdings without causing too much chaos (no guarantees, though).

In a rather bold move noted by Lookonchain, the estate recently swapped their nearly $25 million worth of Stargate’s STG tokens for LayerZero’s shiny new ZRO, following an announcement of their own Layer 1 blockchain-because why not add more layers to an already complicated cake?

After LayerZero announced plans to launch its Layer 1, Zero, #Alameda’s bankruptcy wallet swapped 129.04M $STG($24.49M) for 11.14M $ZRO($24.29M).

– Lookonchain (@lookonchain) February 12, 2026

Alameda’s Liquidation Process

This ongoing carnival of liquidations, coupled with some impressive recoveries from clawbacks and asset appreciation, has allowed the FTX estate to amass over $16 billion in total value-a feat that could make a dragon envious. This pile of gold enabled them to confirm a reorganization plan in late 2024, which promised full repayment plus interest to non-governmental creditors, making them the fairy godmother of the financial realm.

Funds from Alameda’s liquidated assets have been pooled into the FTX bankruptcy estate, which is then distributed to creditors through phased payouts like a well-timed series of fireworks. The distributions kicked off in early 2025, with billions sent out in multiple rounds-one notably included over $5 billion in a single phase, because why not go big or go home?

Strategically, all the unsecured lenders and certain classes (including those tied to Alameda loans) have received cumulative recoveries up to 85% or more toward full repayment. Meanwhile, the smaller unlocks and sales (including our friend SOL in 2026) continue to support further creditor payments under the watchful eye of the court, which has surely become accustomed to this chaotic opera.

As of February 12, 2026, addresses linked to the FTX/Alameda estate have unstaked approximately 196,611 SOL, while the estate still has over 4.18 million SOL staked on the Solana network-because who doesn’t love a good stake in these turbulent times?

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2026-02-12 10:39