Solana

Galaxy

<a href="https://optimisus.com/news/crypto-news/ftx-founder-sam-bankman-fried-sentenced-to-25-years/" rel="noopener noreferrer nofollow">FTX exchange</a> divested a substantial percentage of its Solana (SOL) assets following bankruptcy in order to settle debts with creditors, causing apprehension among investors on the potential repercussions on the market.  
The court-sanctioned auction generated $1.9 billion through the sale of 30 million SOL tokens to prominent investors, such as Galaxy Trading and Pantera Capital.  
In addition, the tokens that have been sold are restricted from being accessed until January 2028. FTX, the company, now possesses 21 million SOL tokens, which are estimated to be worth over $3.75 billion.  
Despite the adverse consequences of FTX's collapse in 2022, Solana has made a remarkable rebound, with a substantial 332% surge in DEX trading volume and a 97% growth in market cap in the previous quarter.  
These figures demonstrate Solana's growing significance in the cryptocurrency ecosystem.  
Two weeks ago, <a href="https://optimisus.com/market/market-news/is-justin-sun-htx-exchange-at-risk-of-becoming-the-next-sbf-analyst-warns/" rel="noopener noreferrer nofollow">Sam Bankman-Fried or SBF</a>, the ex-CEO of <a href="https://optimisus.com/news/crypto-news/ftx-founder-sam-bankman-fried-sentenced-to-25-years/" rel="noopener noreferrer nofollow">FTX</a>, has received a 25-year jail term for his involvement in the downfall of the crypto exchange. 
The post <a href="https://optimisus.com/news/crypto-news/ftx-exchange-offloads-solana-at-big-discount-raising-1-9b-amid-creditor-repayment-efforts/" rel="noopener noreferrer nofollow">FTX exchange offloads Solana at big discount, raising $1.9B amid creditor repayment efforts</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

FTX exchange offloads Solana at big discount, raising $1.9B amid creditor repayment efforts

Optimisus

Other articles published on Apr 8, 2024

Bitcoin (BTC) and Solana (SOL) Fans See Growth Potential in Koala Coin (KLC) Amid Positive Market...

World's First Bitcoin DEX Satoshi DEX Announces $9 Million Reached in Presale (8 Apr)

Navigating Image Copyright in the Age of AI: A Journalist’s Guide

What’s the New Paradigm of Markets, Beneath the Surface?

Bitcoin halving could be a ‘sell-the-news’ event, at least for a few months

Cardano Set For Boost With Two Major Upgrades, Says Hoskinson

Join our free newsletter for daily crypto updates!