FTX to Auction Remaining SOL Holdings

IconCrypto News Terminal22 Apr, 2024

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FTX to Auction Remaining SOL Holdings

FTX, a cryptocurrency exchange, is planning to auction off its remaining holdings of Solana (SOL), according to an interview with Figure Markets CEO Mike Cagney. Specifics on the auction have not yet been released. Figure Markets plans to set up a special purpose vehicle (SPV) to bid on the SOL being sold. FTX previously sold two-thirds of its SOL holdings (25-30 million SOL) to Galaxy Trading, Pantera Capital, and others. Previously on March 21, 2024, FTX announced plans to sell its remaining SOL holdings.