{"id":75356,"date":"2024-04-05T10:32:38","date_gmt":"2024-04-05T14:32:38","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=75356"},"modified":"2024-04-05T10:32:41","modified_gmt":"2024-04-05T14:32:41","slug":"ftx-sells-30m-sol-tokens-at-64-each-to-industry-giants","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ftx-sells-30m-sol-tokens-at-64-each-to-industry-giants\/","title":{"rendered":"FTX Sells 30M SOL Tokens at $64 Each to Industry Giants"},"content":{"rendered":"\n

Amid bankruptcy, <\/a>FTX raises $1.9 billion by selling up to 30 million SOL tokens at $64 each to industry titans such as Galaxy Trading.<\/p>\n\n\n\n

\"FTX
FTX Sells 30M SOL Tokens at $64 Each to Industry Giants<\/figcaption><\/figure>\n\n\n\n

FTX's bankruptcy administrators have executed the liquidation of a significant portion of their Solana (SOL) token holdings, constituting a pivotal event in the cryptocurrency market. <\/p>\n\n\n\n

The transaction encompassed the sale of between 25 million and 30 million locked-up SOL coins, each valued at $64, resulting in a substantial influx of $1.9 billion into the FTX estate. <\/p>\n\n\n\n

Notably, this sale occurred at a juncture when SOL's market value hovered around $172 per token, thus signifying a considerable markdown for prospective buyers.<\/p>\n\n\n\n

The magnitude of this liquidation has attracted widespread attention from prominent industry players, with entities such as Galaxy Trading\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> and Pantera Capital<\/use><\/svg><\/span><\/a> actively participating, underscoring the robust interest in the transaction. <\/p>\n\n\n\n

While stakeholders perceive this as an opportunity for significant profit potential, contingent upon SOL's sustained market performance, it also entails inherent risks due to the cryptocurrency's historical volatility.<\/p>\n\n\n\n

Moreover, the deal's scale and accompanying stipulations, such as a mandated four-year lock-up period for the capital, underscore the cautious approach adopted by involved parties, aiming to mitigate potential market uncertainties and capitalize on SOL's future growth prospects.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amid bankruptcy, FTX raises $1.9 billion by selling up to 30 million SOL tokens at $64 each to industry titans such as Galaxy Trading. FTX’s bankruptcy administrators have executed the liquidation of a significant portion of their Solana (SOL) token holdings, constituting a pivotal event in the cryptocurrency market. The transaction encompassed the sale of […]<\/p>\n","protected":false},"author":53,"featured_media":54327,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[16938,5717,9479],"class_list":["post-75356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-bankruptcy-2","tag-ftx-2","tag-solana-sol"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/07\/jkl.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/75356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=75356"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/75356\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/54327"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=75356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=75356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=75356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}