Summary
TLDR: FTX administrators sold 25-30 million Solana (SOL) tokens at a 60% discount for $64 each, fetching nearly $1.9 billion. This strategic divestment is part of FTX’s dissolution process after its collapse. The sale attracted notable firms and highlights institutional investors’ risk appetite. Investors are trading immediate liquidity for reduced prices with a four-year lock-up period. The sale adds intrigue due to FTX co-founder’s legal troubles and Solana’s role in FTX’s collapse.
Key Points
1. FTX administrators sold a significant portion of Solana (SOL) assets, fetching nearly $1.9 billion, with between 25 million and 30 million SOL tokens sold at a 60% discount.
2. The sale attracted notable firms like Galaxy Trading and Pantera Capital, showcasing deep interest and potential confidence in Solana’s future. This strategic divestment is part of FTX’s dissolution process following its collapse in November 2022.
3. The significant discount and scale of the deal highlight the risk appetite of institutional investors in a volatile market. The transaction involved trading immediate liquidity for the chance to buy at reduced prices, with a four-year lock-up period on capital.