FTX's legal victory to sell $3 billion in assets, including Solana, sparks intrigue. Bitcoin and Ethereum hold steady amid uncertainty, but Solana faces scrutiny.
, the exchange can initiate the sale of $50 million worth of digital assets in the first week, with the possibility of increasing this limit to $100 million subsequently. Moreover, the court has the authority to further raise the weekly limit to $200 million if necessary.
Additionally, it’s important to note that the sales of Bitcoin, Ethereum, stablecoins, and the redemption of stablecoins will not be counted towards the $100 million weekly limit, as clarified in a footnote on the order. Furthermore, transactions involving bridging tokens from non-native blockchains back to their native networks will also be excluded from the calculation of the limit.has faced considerable challenges following the FTX crash.
At present, the defunct exchange possesses approximately $1.6 billion worth of Solana, constituting one-third of its total holdings and approximately 10% of the total SOL supply., coupled with the percentage of the total supply it represented, has contributed to increased fear, uncertainty, and doubt surrounding SOL as news of the impending sales spread.
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