On March 1, 11.2 million SOL tokens worth approximately $1.57 billion were unlocked. This is the first major wave of the planned gradual release of assets frozen in staking after the FTX collapse in 2022. The unlocking is managed by FTX liquidators, who are also responsible for distributing assets to settle debts with creditors. The first payouts occurred on February 18. On-chain data shows that the unlocked tokens represent 2.2% of the total Solana supply (488 million tokens). Two more small releases are planned in the coming months: 12,700 SOL on April 1 and 73,700 SOL on May 1. According to the leading creditor advocate Sunil Kawuri, FTX has already sold 41 million blocked SOL in three auctions. The largest buyer was Galaxy Digital, which purchased 25.5 million tokens at $64 — significantly below the current market price of $144.