The FTX estate has recently made a strategic move by staking $122 million worth of Solana (SOL) tokens. With 5.5 million SOL tokens delegated to a Solana network validator, this alleviates the concerns of a potential liquidation of its holdings.
This news has sparked much discussion within the cryptocurrency community, and for good reason. With such a substantial amount of SOL tokens staked, it indicates a bullish stance on the Solana blockchain.
According to a court filing on September 11, 2023, the FTX estate has successfully recovered assets worth $7 billion. This includes over $1 billion in staked SOL tokens, along with $560 million in Bitcoin (BTC). Additionally, it holds $200 million in real estate in the Bahamas and $1.9 billion in illiquid assets.
All of these assets presently under the FTX estate’s management, along with the staking of 5.5 million SOL tokens, suggests that the estate is confident in the long-term prospects of the Solana network. As the unlocking of SOL tokens continues, the crypto market will be closely watching for future moves from the estate.
