The FTX estate sold around $1.9 billion worth of SOL in a bid to clear the collapsed crypto exchange of debt.
A delay of an FTX estate SOL sale occurred due to "significant buyer interest," Bloomberg adds. One interested entity was Galaxy Trading, a subsidiary of Galaxy Digital, which set up a $620 million fund to buy up FTX's SOL. This fund has a management fee of 1%. The digital asset firm Neptune Digital previously stated that it bought 26,964 SOL at $64 each for $1.73 million, with 20% of that lot unlocking in March 2025. Pantera also established a $250 million fund in March to purchase the discounted Solana of the FTX estate, The Block previously reported.
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