Be careful, Friends, your FTT risks falling more than ever, I advise you to place an automatic sell order.
A recent announcement reported the impending sale of Solana's locked balance by FTX Estate, following the cryptocurrency exchange's bankruptcy. Institutional investors are set to acquire 41 million Solana at a significantly discounted price of around $60 per token, which is a significant discount from the current market price.
Creditors have expressed dissatisfaction with how their rights were handled in the bankruptcy, alleging that some assets were liquidated at prices well below their true value. Despite creditors' objections, the judge overseeing the case said the recent hearing focused specifically on the FTX co-founder's liability and not on issues related to creditors' claims. One company has already confirmed the purchase of Solana at a discounted price, which appears to match the terms of the offer offered by FTX Estate. Alongside the bankruptcy proceedings, creditors filed a class action lawsuit against the bankruptcy consulting firm, alleging its complicity in FTX's alleged fraud.
