Next Locked Sale of FTX Real Estate Solana brush
-1.67%
After selling $1.9 billion worth of Solana tokens to industry players including Galaxy Digital and Pantera, the next sale will be an auction. according to To Figure CEO Mike Cagney. Exact details of the sale have not yet been disclosed and FTX did not immediately respond to a request for comment.
Locked Solana tokens, which accounted for the largest percentage of FTX’s digital asset holdings at the time of the collapse, attracted strong interest from buyers willing to take the risk of paying a discounted price for locked Solana tokens they could not sell. Until a certain date in the future.
The last sale of about two-thirds of FTX’s holdings generated $2.6 billion for the property at a cost of about $60 per token. With Solana’s current price hovering around $150, the purchase seems like a good decision. However, the volatility of cryptocurrencies means that the price can change significantly before the tokens are unlocked and all funds can be sold.
Nonetheless, interest in locked tokens still appears to remain. Cagney’s Figure Markets plans to create a special purpose vehicle that would allow non-U.S. investors and accredited U.S. investors to participate in auctions, a move praised by outspoken creditor Sunil Kavuri.
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