Posted 12/15/2023, 2:13:00 PM
FTX's Massive Solana Holdings Surge to $4.2B, Setting Bankruptcy Claims Market Ablaze
- FTX's holdings of Solana (SOL) now worth $4.2B due to price rally, setting claims market ablaze
- FTX estate has 55.8M SOL tokens, mostly locked up, originally worth $1.16B
- Price spike could lead to 100% repayment of creditors, distress firms scrambling to buy claims
- Market competition for FTX claims has gone "red hot" as firms become less selective
- Anticipation around amended bankruptcy plan, due Dec 16, also driving SOL price and claims interest