FTX Estates Assures Investors By Staking $122M Solana Tokens
The post FTX Estates Assures Investors By Staking $122M Solana Tokens appeared on BitcoinEthereumNews.com. The FTX Bankruptcy Estate or FTX Estate has been trying to salvage whatever it can since the collapse. The entity has recently staked over 5.5 million Solana (SOL) tokens worth $122 million. Based on the on-chain data from SolanaFM, FTX did it with a prominent validator Figment. More importantly, this update surfaced when speculations were rife about the estate’s handling of its holdings. FTX’s Strategic Staking of Solana Tokens Not surprisingly, the FTX’s management is already selling off its significant holdings. However, rumors of getting rid of Solana tokens feared the investors about SOL’s value. Thankfully, FTX’s going against popular belief allayed the fears of many people. It also made clear that the bankrupt exchange is going bullish on the long-term prospects of Solana. The news had its impact on the SOL’s price. It recorded a surge of 2.08% and traded at $21.96. Asset Recovery Status Quo On September 11, 2023, the FTX estate divulged some details about its recovery process. It told the court that the firm had successfully recovered assets worth $7 billion. And if one’s wondering, it includes the staked SOL tokens as well. Reportedly, the value of Solana tokens in this lot is over $1 billion. It also includes a sizable holding of Bitcoin (BTC) worth $560 million. The filing also revealed information about additional asset classes. Notably, this comprises $1.9 billion in illiquid assets and 200% million in real estate holdings in theBahamas. This information disclosed FTX estate’s asset recovery and management efforts. It also highlighted their substantial financial holdings. It should be noted that SBF is still duking the fraud charges out in court. Still, the staking move shows that the company still wants to keep its investments. Apparently, it has also got some market observers excited about the estate’s future moves. What Makes…
The post FTX Estates Assures Investors By Staking $122M Solana Tokens appeared on BitcoinEthereumNews.com.
The FTX Bankruptcy Estate or FTX Estate has been trying to salvage whatever it can since the collapse. The entity has recently staked over 5.5 million Solana (SOL) tokens worth $122 million. Based on the on-chain data from SolanaFM, FTX did it with a prominent validator Figment. More importantly, this update surfaced when speculations were rife about the estate’s handling of its holdings. FTX’s Strategic Staking of Solana Tokens Not surprisingly, the FTX’s management is already selling off its significant holdings. However, rumors of getting rid of Solana tokens feared the investors about SOL’s value. Thankfully, FTX’s going against popular belief allayed the fears of many people. It also made clear that the bankrupt exchange is going bullish on the long-term prospects of Solana. The news had its impact on the SOL’s price. It recorded a surge of 2.08% and traded at $21.96. Asset Recovery Status Quo On September 11, 2023, the FTX estate divulged some details about its recovery process. It told the court that the firm had successfully recovered assets worth $7 billion. And if one’s wondering, it includes the staked SOL tokens as well. Reportedly, the value of Solana tokens in this lot is over $1 billion. It also includes a sizable holding of Bitcoin (BTC) worth $560 million. The filing also revealed information about additional asset classes. Notably, this comprises $1.9 billion in illiquid assets and 200% million in real estate holdings in theBahamas. This information disclosed FTX estate’s asset recovery and management efforts. It also highlighted their substantial financial holdings. It should be noted that SBF is still duking the fraud charges out in court. Still, the staking move shows that the company still wants to keep its investments. Apparently, it has also got some market observers excited about the estate’s future moves. What Makes…
What's Your Reaction?
