The $1.9 billion SOL previously sold by FTX will be locked in for four years and cannot be sold
2024-04-05 23:52:01
Earlier reports stated that FTX sold up to 30 million SOLs to venture capital firms such as Pantera Capital and Galaxy Trading at a price of $64 per SOL, a significant 62% decrease from current market prices. SOLs will be locked in for four years and cannot be sold. This transaction is expected to bring approximately $1.9 billion in revenue to FTX and is positioned as an important step in repaying creditors. However, those affected by the collapse of the exchange hold a negative view on this transaction.
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