People familiar with the matter: FTX has locked 41 million SOL worth US$7.5 billion and has attracted multiple buyers

2024-03-28 23:11:39BlockBeatsShare to:

SOL+2.04% ($187.9)

According to BlockBeats news, on March 28, The Block quoted people familiar with the matter as reporting that the 41 million SOL (approximately US$7.5 billion) locked in FTX has attracted multiple buyers. It is reported that FTX selected Galaxy Asset Management to facilitate token sales in September 2023, and the registered investment adviser is allocating tokens to potential bidders, some of whom are raising funds for larger bids. Neptune Digital is the first company to publicly state that it has acquired locked SOL from FTX Assets. The institution purchased 26,964 SOL at a price of $64 per token. 20% of the tokens will be unlocked in March 2025, and the remaining tokens will be unlocked linearly every month until 2028. Galaxy Trading was one of the funds that raised funds from investors to bid for the locked SOL. Investors can participate at $64 per token, and the fund will charge a 1% management fee, according to three sources. BitGo will be the custodian of the tokens. Two sources said that while some of the transactions have now been completed, some tokens are still remaining. They expect the products to be available late next month, although this has yet to be confirmed. One source said the product is in high demand as investors realize they don’t have enough exposure to the SOL token as the token’s price rises rapidly in the process.

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Price	$187.9 USD	Price Change (24h)	+2.04%	Trading Volume (24h)	$2,435,578,948.36 USD
Market Cap	$63,117,843,926.27 USD	Circulating Supply	447,148,424.1	Max Supply:	--

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