Worts belonging to the non -existent Crypto Exchange FTX and the bankruptcy of the Alameda Research trading company unpacked over 3 million Solana tokens, the largest SOL unlocking since it began to sell company tokens in November 2023.
March 4 Blockchain Analytics Lookonchain tiled FTX and Alameda wallets without 3.03 million Solana (SOL). At the time of unlocking, the tokens were worth about $ 431 million.
Since unlocking SOL, bankrupt cryptographic companies have deposited About $ 25,000 worth $ 3.3 million in Binance.
The latest unlock is FTX and the greatest failure of Alamed since November 2023, when companies Unbeatable 2.1 million salt worth $ 141 million. Since then, bankrupt cryptographic companies have consistently unpacked millions in SOL and sent assets for exchange.
FTX and Alameda wallets send $ 3.3 million to Binance. Source: Solscan
FTX unloaded almost $ 1 billion in Solana tokens
Although FTX and Alameda unlocked over $ 400 million in SOL, companies may not be able to sell all tokens in one transaction. In September 2023, the Delaware Bankruptcy Court approved the FTX plan for the sale of digital assets, imposing strict liquidation amounts.
According to a court decision, the bankruptcy exchange may sell digital assets every week through an investment advisor, with an initial limit of USD 50 million in the first week and USD 100 million in the following weeks. If FTX tries to sell more, he must demand the consent of the courts in order to boost the limit to $ 200 million per week.
Data provided by the Platform Analysis of Blockchain on the chain show that from November 2023 FTX has an unexplored 7.83 million SOL. Place on the chain he said FTX and Alameda unloaded tokens worth about $ 986 million, on Coinbase and Binance at an average price of USD 125.80 per Sol.
FTX and SOL History of non -excellent research from November 2023. Source: Place on the chain
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FTX begins the repayment of customers worth $ 1.2 billion
Failure to comply with SOL tokens appears when FTX corresponds to some of its former users who have lost funds in the collapse of the stock exchange.
On February 18, FTX began to distribute about $ 1.2 billion in digital assets to clients affected by its bankruptcy. Although perceived as a positive step towards regaining the industry, repayment stood before challenges, especially for clients based on jurisdictions that do not qualify for distribution.
On February 21, the creditor and lawyer FTX Sunil Kavuri shared a list of 163 jurisdictions not eligible for FTX repayments. Kavuri said that there are many claims from countries that did not qualify for distribution. However, the FTX creditor said the stock exchange looked at the options.
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