890 million SUI tokens were sold at a low price, now worth 4.6 billion dollars
It turns out that even the manipulators can sell off! Recently, FTX creditor Sunil exposed a shocking asset disposal incident on the X platform, attracting widespread attention. According to Sunil, FTX sold 890 million SUI tokens and corresponding equity to Mysten Labs for only 96 million dollars in March last year. However, as of today, the value of these tokens has skyrocketed to about 4.6 billion dollars, creating possibly the largest 'sell-off' event in the history of cryptocurrency. If they had not sold and kept them until now, it is estimated that the debt would have been cleared.
Data shows that the current price of SUI has reached 5.2 dollars, with a market capitalization of as high as 16 billion dollars. This means that if FTX had chosen to retain these tokens instead of selling them, their assets would have greatly appreciated. This incident not only highlights the extreme volatility of the cryptocurrency market but also reignites discussions in the industry regarding the importance of asset management and investment decisions.
As a once leading cryptocurrency exchange, FTX's bankruptcy case continues to have a profound impact globally. This sell-off event undoubtedly adds more regrets and reflections for FTX's creditors. For Mysten Labs, this transaction undoubtedly becomes an important turning point in its development journey, acquiring significant appreciated assets at a very low cost.
With the continuous development of the cryptocurrency market, such events may continue to occur, reminding investors and institutions to conduct asset management and investment decisions more cautiously to cope with the huge volatility and uncertainty of the market.$SUI