Stop the FUD, HEre's Why FTX Can't Sell Its Solana Holdings
Reportedly, FTX is seeking approval for its liquidation of $3.4 billion in SOL, FTT, BTC, ETH, and other crypto asset holdings. Crypto exchange FTX held Solana as a major part of its reserves. However, they sold SOL in huge quantities when the exchange crashed last year in November 2022. advertisement Of the total $3.04 billion in crypto assets held by FTX, Solana constitutes the lion’s share. As of January 17, FTX’s cryptocurrency holdings were estimated to consist of approximately $685 million in Solana (SOL) tokens, $529 million in FTT tokens, $268 million in Bitcoin (BTC), $90 million in Ethereum (ETH), along with a range of other assets, including Aptos, Dogecoin, Polygon, XRP, and various stablecoins. Will FTX Really Sell Solana Holdings? However, many people seem to have overlooked a significant detail. The SOL tokens held by FTX debtors are not immediately available for sale. In contrast to the impression conveyed by the shared visual data, these SO...