The FTX estate has finally offloaded the last of its highly discounted SOL (SOL) tokens to Pantera Capital and Figure Markets in the now-defunct exchange’s bid to make creditors and former clients whole. FTX sold the SOL tokens, valued at $2.2 billion, for $102 per token — a steal when compared to SOL’s current market price of $168. Figure Markets acquired 800,000 SOL through the auction, with Pantera Capital acquiring the rest of the lot sold by the bankrupt exchange. A four-year vesting schedule for the tokens and coins will be implemented as part of FTX’s agreement with purchasers of the discounted assets. Despite the FTX bankruptcy estate’s recovery of $7.3 billion in assets, not everyone was convinced by the estate’s recovery efforts. Sunil Kavuri, a creditor spearheading the FTX exec community, took issue with the bankruptcy estate’s selling of assets at deeply discounted prices. Kavuri stated: ‘Sullivan & Cromwell has trampled over our property rights. They have liquidated billions of dollars of crypto assets. There’s a token S&C sold at 11 cents; it’s now trading at two dollars. FTX had $10 billion in Solana tokens — they sold it at 70% discount.’ Kavuri went on to explain that the digital assets belonged to creditors and clients of the former platform and lambasted FTX’s bankruptcy lawyers, Sullivan & Cromwell, for selling them them a deep discount, arguing that they simply should have been returned to the injured parties. SOL’s price dropped 4% following the announcement of the bankruptcy auctions, but the alternative layer-1 network continues to exhibit strong price performance. The altcoin is currently enjoying a steady uptrend that began in November 2023, reaching a high of $210.

FTX estate offloads the last of its highly discounted Solana tokens

The FTX estate completed the sale of its remaining Solana (SOL) tokens, valued at $2.2 billion, to Pantera Capital and Figure Markets. The tokens were sold at $102 each, a significant discount compared to the current market price of $168. This move is part of FTX’s efforts to compensate creditors and former clients. A four-year vesting schedule is in place for the acquired tokens.