FTX Sold $1.9 Billion in Solana to Investors at Deep Discount While in Bankruptcy, Raising Concerns from Creditors

FTX sold about $1.9 billion worth of its Solana (SOL) tokens at a steep discount of $64 per token, while the market price was $177.

Buyers included Galaxy Digital and Pantera Capital, who set up funds to purchase the discounted SOL.

The SOL sale raised money for FTX's bankruptcy estate to pay back creditors.

Creditors and customers argue the SOL should have been sold at higher market prices to make them whole.

Crypto asset manager Galaxy Digital has secured roles both buying the discounted SOL and advising the FTX estate on selling assets.