FTX's Assets Place $122M in Solana
Earlier today, FTX estate staked over 5.5M $SOL, valued at $122M, from its principal wallets on the Solana blockchain.
Overseen by a bankruptcy trustee, FTX's assets encompass both the exchange's assets and obligations as of its bankruptcy declaration date.
The trustee's duties involve reclaiming assets and distributing them to creditors.
There have been previous concerns that the estate might liquidate its substantial Solana holdings, which could impact the asset’s market value. However, the latest action by the FTX estate counters those concerns.
A legal document from September 11, 2023, revealed that FTX's assets have retrieved an estimated $7B worth of assets.
This figure incorporates around $1B predominantly in staked Solana tokens and $560M in Bitcoin, categorized as the entity's liquid crypto assets.
Additionally, the estate reported $200M in real estate holdings in the Bahamas and $1.9B in illiquid crypto assets...
