Solana

Aptos

Millions

Bitcoin

Million

<p>The post <a rel="nofollow" href="https://coinpedia.org/news/ftx-bankruptcy-estate-holds-150-million-in-sol-and-eth-amidst-ongoing-sam-bankman-fried-trial/">Bankrupt FTX Has $150M in Staked Solana and Ethereum!</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>As per the latest news, the bankrupt and infamous <a href="https://coinpedia.org/crypto-live-news/ftx-estate-stakes-121-million-in-sol-via-figment-at-6-99-apy/">FTX</a> apparently has a $150 million worth of assets tied up in Solana and Ethereum staking!</p> 
<p>On October 15, <a href="https://www.binance.com/en-IN/feed/post/1344761?ref=62876286">Binance Square</a> made public a statement shedding light on FTX’s substantial Solana holdings. Here’s what was revealed. </p> 
<h2 class="wp-block-heading" id="h-understanding-sol-staking"><strong>Understanding SOL Staking </strong></h2> 
<p>On October 13, Whale Alert reported a transfer of 5.5 million SOL. This spurred on-chain researcher Ashpool to connect the dots, concluding that a significant portion of SOL is in the hands of FTX. Ashpool also revealed that these funds were intended for staking with the validator Figment.</p> 
<p>Earnings from SOL staking can vary. Some sources report historical annual percentage yields (APY) of around 5.5%. However, depending on the staking platform used, others argue that SOL staking can yield as much as 14.47% APY. Prizes for staking on the <a href="https://coinpedia.org/price-analysis/sol-price-analysis-solana-price-on-the-verge-of-a-trend-reversal-soon/">Solana</a> network are distributed approximately every two to three days, although the frequency can fluctuate based on network conditions and other factors.</p> 
<p><strong>Gradual Release of SOL</strong></p> 
<p>It’s essential to note that not all of FTX’s roughly $1.16 billion in SOL assets are immediately available. FTX plans to release SOL in 12 million increments every 30 days until 2027. From 2027 to 2028, a total of 34.52 million SOL will be gradually released each month. These periodic releases offer FTX the flexibility to either sell or stake the SOL. However, FTX may choose to sell the complete vested cache’s keys before the official release.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/alameda-researchs-shocking-confession-confidential-audio-reveals-misuse-of-ftx-user-deposits/">Alameda Research’s Shocking Confession ; Confidential Audio Reveals Misuse of FTX User Deposits</a></p> 
<h2 class="wp-block-heading" id="h-ftx-s-asset-portfolio"><strong>FTX’s </strong>Asset Portfolio </h2> 
<p>In a filing on September 11, FTX disclosed its four largest assets, which include Ether coins valued at $192 million. The company also noted its <a href="https://restructuring.ra.kroll.com/FTX/Home-DownloadPDF?id1=MjUxODI3OA==&amp;id2=-1">substantial holdings</a> in Solana, worth $1.16 billion, Bitcoins valued at $560 million, and Aptos (APT) tokens, worth $137 million. FTX’s portfolio also includes cash, government-recovered assets, and brokerage holdings.</p> 
<h2 class="wp-block-heading" id="h-bankrupt-millionaires">Bankrupt Millionaires</h2> 
<p>CoinDesk has recently highlighted FTX’s financial prospects. Despite being declared bankrupt, FTX is set to earn a minimum of $9 million annually, thanks to its $150 million worth of Solana and <a href="https://coinpedia.org/information/market-price-prediction-ethereum-2019/">Ethereum</a> staking.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Bankrupt FTX is set to earn at least $9 million per year as it staked $150 million worth of <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> and <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> over the weekend, blockchain addresses show. By <a href="https://twitter.com/shauryamalwa?ref_src=twsrc%5Etfw">@shauryamalwa</a>.<a href="https://t.co/FFfor3bzba">https://t.co/FFfor3bzba</a></p>— CoinDesk (@CoinDesk) <a href="https://twitter.com/CoinDesk/status/1713817658787848381?ref_src=twsrc%5Etfw">October 16, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Most people have commented positively, highlighting the efficiency and importance of the correct crypto strategy.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Wow, bankrupt and making millions? Just goes to show, you can never underestimate the power of crypto staking.</p>— Jacob Chase (@luonhpixan) <a href="https://twitter.com/luonhpixan/status/1713823247379406929?ref_src=twsrc%5Etfw">October 16, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Also Read: <a href="https://coinpedia.org/altcoin/ethereum-staking-yields-drop-to-3-5-coinbase-report-signals-waning-investor-interest/">Ethereum Staking Yields Drop to 3.5%: Is the Party Over?</a></p>

Bankrupt FTX Has $150M in Staked Solana and Ethereum!

Table of Contents

CoinPedia News

Other articles published on Oct 16, 2023

BlackRock CEO: Bitcoin Rally “Beyond the ETF Rumor” as Investors Flock to Crypto as a “Flight to ...

ARK Invest Modifies Spot Bitcoin ETF Proposal Following SEC Feedback

Chainlink: The Rising Altcoin with Institutional Interest and RWA Trend

Could Sam Bankman-Fried’s Adderall dose be grounds for mistrial?

An overview of current news in the crypto space

The SEC is apparently not going to appeal the Grayscale Bitcoin ETF court verdict.

Join our free newsletter for daily crypto updates!