2024-05-25
The now-defunct exchange FTX has concluded a sale of discounted
Solana tokens, valued at $2.6 billion to investment firms Pantera Capital and
Figure Markets, which acquired these assets at prices considerably below the
market value.
The
transaction marks the end of a series of auctions aimed at aiding FTX's
recovery efforts following its bankruptcy.
Notably,
Figure Markets secured a block of 800,000 Solana tokens for approximately $80
million, which translates to about $102 per token, a figure starkly lower than
the market price of around $166 per token at the time of the sale.
Pantera
Capital also participated in the auction, though details about their purchase
price remain undisclosed.
Solana's
price following the announcement; SOL price still strong, indicating the
continued confidence of the investment community in its long-term potential.
Solana
even have the potential to rank 3rd most
valuable cryptocurrency.
The
successful completion of this sale has also bolstered FTX's position, allowing
it to boost its surplus cash reserves, thereby enhancing its ability to fully
repay its creditors.
