The bankruptcy estate of FTX intends to auction a second batch of Solana tokens worth billions, and some of the largest crypto investment firms have expressed interest.
The estate previously sold SOL tokens worth $1.9 billion through Galaxy Digital; investors purchased the tokens at around $60, but Solana currently trades at over $150.
The bankruptcy estate of collapsed crypto exchange giant FTX is preparing to sell a second batch of Solana tokens for billions of dollars, and investors are lining up as SOL continues to soar.
FTX holds 41 million locked Solana tokens worth $6.341 billion at current prices. A few weeks ago, Bloomberg reported that the exchange’s bankruptcy estate had sold around 30 million tokens at $64 each, raising close to $2 billion.
At the time, SOL was trading at $174, translating to a 63% discount. However, the tokens are locked and were issued to FTX when it invested in Solana Labs. This means that the investors who purchase these tokens won’t be able to sell
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