Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
FTX and Alameda Research Liquidate $10 Million Worth of Solana (SOL) Tokens to Pay Back Creditors

FTX and Alameda Research Liquidate $10 Million Worth of Solana (SOL) Tokens to Pay Back Creditors

CointimeCointime2023/10/28 09:57
By:Cointime

On Wednesday, a wallet address linked to FTX crypto exchange transferred $10 million worth of Solana (SOL) tokens as part of a plan to liquidate crypto assets to pay back creditors. FTX and Alameda Research received a court order in September to liquidate $3.4 billion worth of crypto assets, and have been gradually selling them to prevent significant impact on prices. FTX has dumped some of its SOL holdings to Binance, as the price of Solana rallied 70% in October, allowing for more liquidation. Despite recent deposits to various exchanges, FTX and Alameda still hold $736 million worth of EVM assets. The price of SOL has dipped over the past 24 hours, with analysts predicting a step back in search of fresh liquidity ahead of another breakout.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Bitcoin drops below $100,000 after Fed Chair Powell’s comment against BTC reserve

Bitcoin fell below the $100,000 mark on Wednesday following Federal Reserve chair Jerome Powell’s comments.Powell spoke against the idea of a U.S. national bitcoin reserve, while giving a hawkish 2025 outlook.

The Block2024/12/19 03:33

Announcement on adjustment of the maintenance margin rate and position tiers for multiple USDT-M perpetual futures trading pairs

Bitget has adjusted the the maintenance margin rate and position tiers of the following futures trading pairs on December 19, 2024, 11:00(UTC+8): LUMIAUSDT, ENSUSDT Refer to Position Tiers for details of the tier adjustment. The adjustment has been made to reduce the risk of your positions and impr

Bitget Announcement2024/12/19 03:04