FTX's bankruptcy estate is set to auction off its remaining locked Solana ($SOL) tokens, transitioning from fixed-price sales to an auction format due to high buyer interest. This decision follows a successful sale of two-thirds of FTX's locked tokens. The auction will include about 21 million SOL tokens, available at a discount of approximately 50% compared to the spot price. Figure Markets CEO Mike Cagney confirmed the auction details, with further information expected on Monday. The auction opens participation to retail investors with a minimum bid of $5,000, a significant change from the previous $5 million requirement. This adjustment aims to broaden potential buyer participation, incorporating a KYC process.
FTX Will Auction Off the Rest of Its Locked Solana Tokens ► https://t.co/hFOw7Tl8Ii https://t.co/hFOw7Tl8Ii
🗞️ Crypto News The FTX estate will conduct the next sale of locked Solana $SOL tokens in the form of an auction rather than a fixed-price sale. 🔗 https://t.co/0v6Q2uTbGK #CryptoNews
FTX creditors invited to participate in the auction of the exchange's remaining $SOL tokens. Figure CEO Mike Cagney opts for an auction approach, opening doors for retail investors with a $5,000 minimum, a shift from prior $5M requirements. The process includes a KYC…
they gotta get FTX to sponsor https://t.co/TZc7niwT67
FTX TO AUCTION OFF LOCKED SOLANA TOKENS FTX's bankruptcy estate is preparing to auction a significant amount of locked Solana tokens, according to Figure CEO Mike Cagney. This follows a previous sale of two-thirds of FTX’s locked tokens which garnered substantial interest and… https://t.co/XTZSjA5VYc
FTX to Auction Next Batch of Locked Solana Tokens: Figure Markets CEO Figure Markets CEO Mike Cagney said he had received confirmation that the next round of the FTX estate’s locked SOL sales would take place via an auction, with more details to come on Monday.…
#FTX Estate Plans Auction for Locked #Solana Tokens #NewsBytes https://t.co/QaZvc7FsUG
UPDATE: FTX ESTATE WILL NOW AUCTION LOCKED SOLANA TOKENS, ABANDONING SET PRICE SALES, AMIDST SURGING BUYER INTEREST
FTX locked SOL deal has around 21 million SOL tokens remaining to sell. If you want to buy, why not buy locked? (~50% discount to spot price) If you own, why not sell and rebuy locked? Can hedge your position later if you think the market has topped. So who is buying spot?
FTX to sell next lot of locked Solana tokens at auction https://t.co/VUE0fMM14G