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Panther, Figure Buy the remaining discounted FTX Solana tokens
Bankrupt exchange FTX has completed the auction of its Solana token holdings, raising a total of $2.6 billion. The sales were executed at discounted prices, attracting significant attention from notable buyers, including Figure Markets and Pantera Capital.
Figure Markets secured 800,000 tokens for approximately $80 million, a transaction confirmed by sources who preferred anonymity for the confidentiality of the auction results. Each token was purchased at around $102, significantly lower than the market value of $165 recorded the previous Friday.
Also Panther Capital participated in the last auction spin. Specific details regarding the price and quantity of tokens purchased by Pantera remain unknown to sources.
The sale of these assets is a key step in FTX’s ongoing bankruptcy process, overseen by the estate’s administrators. Despite the substantial revenue generated from token sales, creditors are expected to receive full repayment with interest in fiat currency rather than cryptocurrency, which has been a point of contention among stakeholders.
The controversy continues as stakeholders miss out on potential gains from the cryptocurrency market’s recent surge, highlighted by Bitcoin’s peak performance in March. As it stands, FTX estimates it will distribute approximately $16.3 billion to its creditors, which include more than two million customers, with liabilities totaling approximately $11 billion.