FTX Auctions 41 Million Locked SOL: Key Buyers and Market Impacts Revealed

The latest developments in the ongoing FTX bankruptcy proceedings reveal significant transactions involving locked SOL tokens. On March 1st, Sunil, a representative for FTX creditors, disclosed that the FTX Estate conducted three auctions, resulting in the sale of 41 million locked SOL. Notably, Galaxy and its client, Defiance, emerged as the largest purchasers, securing 25.5 million tokens at an average price of $64. Additionally, Pantera and associates acquired their portion at around $95, while Figure and others secured their buy at an average of $102 per token. Furthermore, FTX liquidated approximately 14 million unlocked SOL at a price range between $20 and $30. Currently, the total unrealized gains from these transactions stand at approximately $2.93 billion, based on the current market value of SOL at $143, highlighting both the volatility and potential profitability within the crypto space.