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A court docket submitting on Monday revealed that failed crypto alternate FTX owns $1.16 billion price of Solana (SOL) tokens – price greater than one-third of the corporate’s whole $3.4 billion liquid crypto portfolio.
Its subsequent largest crypto stash, Bitcoin (BTC), is price $560 million primarily based on pricing as of August 31. Ether (ETH) is available in at a distant third price $196 million, with Aptos (APT) – the thirty sixth largest crypto asset by market capitalization – was accounted for $136 million.
Solana additionally made FTX’s largest enterprise token funding price $137 million, with NEAR token in second at $80 million.
The corporate additionally owns a separate stash of “Class B” crypto belongings – lesser-known tokens that “fail to satisfy liquidity thresholds and/or are largely managed by the property.” These embrace roughly 10 billion Serum (SRM) tokens—the Solana decentralized alternate that went bust when it was revealed that FTX secretly had entry to unilaterally change the protocol—and 269 million Mango (MNGO) tokens.
In the meantime, Solana Labs co-founder Anatoly Yakovenko appears intent to hold on regardless of indicators that FTX’s property is getting ready to liquidate its holdings.
At present’s court docket doc supplies an in depth breakdown of the bankrupt crypto alternate’s belongings together with crypto, money, government-recovered belongings, and different investments, alongside funds made to former boss Sam Bankman-Fried and different executives.
Since submitting for chapter in November, FTX has secured one other $1.5 billion in money on prime of the $1.1 billion it held on the time of the collapse.
The previous CEO, his right-hand Gary Wang, and ex-Alameda CEO Caroline Ellison acquired $2.2 billion in “money, crypto, fairness and actual property,” alongside 46 others. Roughly $87 million in “political and charitable donations” to 3rd events had been additionally recognized.
U.S. legislation might permit such funds to be clawed again and distributed to collectors. To this point, executives together with Wang, Ellison, Nishad Singh, and Ryan Salame have already pleaded responsible to varied types of fraud round misuse of shopper funds and marketing campaign finance violations.
The property additionally owns 38 condos within the Bahamas collectively price $222 million by ebook worth.
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