Solana

Show

Billion

Cosmos

<p>According to <a href="https://twitter.com/WuBlockchain/status/1701249807480741975" target="_blank" rel="noopener noreferrer nofollow">Wu Blockchain</a>, a crypto news reporter, FTX’s financial situation is quite complex, with holdings distributed across a variety of cryptocurrencies. As of August 31, while the exchange did hold a significant $1.16 billion in SOL (Solana), it also had sizeable positions in other cryptocurrencies, such as $560 million in BTC (Bitcoin), $192 million in ETH (Ethereum), and various other assets including APT, USDT, XRP, BIT, STG, WBTC, and WETH.</p> 
<p>The implications of FTX’s broad asset diversification are critical. While Solana might be attracting attention due to FTX’s large holdings, it’s essential to note that several other cryptocurrencies could be affected by the massive sales. With investment portfolios associated with FTX worth around $4.5 billion that are still being calculated, and not included in the initial $7 billion total assets, the stakes are high for a diverse array of coins, not just Solana.</p> 
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:"> 
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"> <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i> 
  <div class="rh-colortitle-inbox-label">
    Trade on US-Banned Exchanges With No KYC 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
  </div> 
 </div> 
 <div class="rh-colortitlebox-text"> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px"> 
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>Tired of missing hot new listings because your favorite exchange is banned in the US? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>With <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a> you can finally trade on Kucoin, ByBit and more without registration or KYC! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>Simply connect your wallet to access every coin. No VPN needed.</p> 
    <p>Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.</p> 
    <p>Take your trading to the next level with:</p> 
    <ul> 
     <li>Instant access to banned CEXs <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6ab.png" alt="🚫" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>No KYC required <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f645-200d-2642-fe0f.png" alt="🙅‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>Trade on your terms – no registration required</li> 
     <li>Maintain full custody – tokens stay in your wallet</li> 
     <li>Access liquidity across leading DEXs and CEXs</li> 
     <li>Bridge assets quickly between any blockchain</li> 
    </ul> 
    <p>Escape CEX limits today with <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span> 
   </div> 
  </div> 
 </div> 
</div> 
<p>Furthermore, Wu Blockchain reports that as of August 24, about 36,075 customer claims have been filed against FTX, amounting to $16 billion. This situation becomes even more complicated when you consider that non-customer claims totaling $65 billion remain, after the removal of $313 billion worth of duplicate claims.</p> 
<p>This layered financial landscape suggests that any potential issues with FTX could ripple across multiple cryptocurrencies, not just Solana. It also underscores the importance of due diligence before trading any of the assets. In the interconnected world of digital assets, volatility in a few areas can also spread to others.</p> 
<p><em>Join us on <strong><a href="https://twitter.com/intent/follow?screen_name=captainaltcoin" data-type="link" data-id="https://twitter.com/intent/follow?screen_name=captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Twitter</a></strong> and <strong><a rel="noopener noreferrer nofollow" href="https://www.facebook.com/captainaltcoin" target="_blank">Facebook</a> </strong>for the latest insights and discussions in the world of crypto.</em></p> 
<p><em>Explore our <strong><a href="https://captainaltcoin.com/tag/news/" target="_blank" rel="noopener noreferrer nofollow">news section</a></strong> and stay ahead of the curve with our expert <strong><a href="https://captainaltcoin.com/predictions/" data-type="link" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noopener noreferrer nofollow">price predictions</a>.</strong></em></p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/beyond-solana-ftxs-3-4-billion-asset-liquidation-threatens-market-stability-for-btc-eth-xrp-and-these-crypto-assets/">Beyond Solana: FTX’s $3.4 Billion Asset Liquidation Threatens Market Stability for BTC, ETH, XRP and These Crypto Assets</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Beyond Solana: FTX’s $3.4 Billion Asset Liquidation Threatens Market Stability for BTC, ETH, XRP and These Crypto Assets

CaptainAltcoin

Other articles published on Sep 12, 2023

SBF’s Legal Team Requests Prison Release Over Internet Access Issues

A Comprehensive Guide to Polygon zkEVM Airdrop: An Opportunity Not to Miss!

29.2 Billion SHIB Bought and Sold by Whales as Shibarium Hits New ATH

Web3 Game Pixels Migrates to Sky Mavis’ Ronin Blockchain from Polygon

Shiba Inu (SHIB) crypto: A 330% burn

US CFTC official calls for developing fraud database

Join our free newsletter for daily crypto updates!