The remaining Solana (SOL) tokens that the now-defunct cryptocurrency exchange FTX holds are intended to be put up for auction.
According to insiders who spoke with Bloomberg, a “blind auction” with a deadline of April 24 is scheduled for this week. The next day is when the outcome is expected to be revealed.
This comes after an FTX report claimed it sold SOL and ZBC tokens for about $307.6 million in March. The company sold $1.9 billion worth of SOL tokens to several buyers on April 5, including Galaxy Trading, owned by Mike Novogratz, and Pantera Capital.
The total numbers for April have yet to be disclosed. Figure Markets CEO Mike Cagney had already stated that the auction was scheduled to take place. His company is planning to participate in the auction and is also gathering money for a special-purpose vehicle (SPV) that will place a bid.
The company sees the sale as a “investment opportunity.” Figure Markets, Pantera Capital, and Abra are among the other bidders. In an interview, Abra CEO Bill Barhydt attested to the company’s involvement.
According to people with knowledge of Pantera, the company is debating whether to enter the auction directly or through an SPV route.
