FTX Bankruptcy Estate Staked Over $120 Million in Solana and Ethereum to Generate Yield
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FTX's bankruptcy estate staked about $122 million in Solana and $5 million in Ethereum to generate passive yield.
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The staked cryptocurrencies were held in wallets of FTX's sister firm Alameda Research.
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Staking locks up tokens for a period of time and provides rewards in the form of additional coins.
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FTX's leadership was previously approved to sell and hedge cryptocurrencies recovered during bankruptcy.
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Solana was FTX's largest crypto holding at over $1 billion prior to the bankruptcy filing.
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