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CDS Crypto News FTX Locked Solana Sale to be Realized for $7.5 Billion

Crypto News

FTX Locked Solana Sale to be Realized for $7.5 Billion

The FTX locked Solana sale is being conducted by Galaxy Digital Holdings.

lectertodd29/03/20241 Mins read361

Crypto News – According to a report from The Block, the FTX bankruptcy estate is asking $7.5 billion for 41 million locked Solana tokens.

FTX Locked Solana Sale to be Realized for $7.5 Billion

Galaxy Asset Management, a subsidiary of Galaxy Digital Holdings, is handling these token sales. Galaxy Trading, another subsidiary of the company, is allegedly putting in a bid for the estate’s locked SOL holdings.

In a public announcement on Wednesday, Canadian crypto infrastructure company Neptune Digital stated that they had successfully completed a strategic acquisition of 26,964 SOL for $64 per token, which is 67% less than the token’s current market value. A linear delivery timetable for the remaining tokens will run until January 2028, according to Neptune, with 20% of the total being released in March 2025.

Sources:unchainedcrypto

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