FTX Concludes Sale of SOL at Below Market Prices

The bankrupt exchange FTX has completed a series of auctions selling $2.6 billion worth of Solana (SOL) tokens at significant discounts to market prices, according to Bloomberg.

👀 Sources indicate that Figure Markets participated in the auction and purchased a lot of 800,000 SOL at approximately $108 per token. On the market, the token trades near $167.

During the auction, an undisclosed amount of the asset was purchased by Pantera Capital, though sources declined to reveal any figures. Earlier this year, media reported that Pantera Capital had specifically raised $250 million to buy SOL from FTX.

The tokens owned by the exchange are subject to a four-year vesting period, but gradual unlocking will begin in a few months.