FTX Bankruptcy Estate Staked Over $120 Million in Solana and Ethereum to Generate Yield

FTX's bankruptcy estate staked about $122 million in Solana and $5 million in Ethereum to generate passive yield.

The staked cryptocurrencies were held in wallets of FTX's sister firm Alameda Research.

Staking locks up tokens for a period of time and provides rewards in the form of additional coins.

FTX's leadership was previously approved to sell and hedge cryptocurrencies recovered during bankruptcy.

Solana was FTX's largest crypto holding at over $1 billion prior to the bankruptcy filing.