FTX Bankruptcy Estate Holds $150 Million in SOL and ETH Amidst Ongoing Sam Bankman-Fried Trial

As per the latest news, the bankrupt and infamous FTX has $105 million worth of Solana and Bitcoin stacking.

FTX Estate Has $5.5M Worth Solana

A recent press release/blog from Binance Square on the 15th of October declared the massive amount of Solana stacked by FTX. 

On October 13, Whale Alert announced a transfer of 5.5 million SOL. As a result of this information being public, on-chain researcher Ashpool concluded that a significant quantity of SOL belonged to the FTX estate. Ashpool stated that the cash was intended for the validator Figment to be staked.

SOL stake results can change. Some sites claim that the historical APY for SOL staking has been approximately 5.5%. Others contend that, depending on the staking platform selected, SOL staking may generate up to 14.47% APY. The distribution of prizes for staking in Solana occurs about every two to three days, while the exact frequency of awards may vary depending on the state of the network and other factors.

Not all of the approximately $1.16 billion in SOL held by FTX’s estate is instantly available. SOL cache for FTX will be provided in increments of 12 million every 30 days till 2027. Up until 2028, a total of 34.52 million SOL will be progressively released each month. These two caches release SOL every month that FTX may sell or stake. However, the complete vested cache’s keys might be sold by FTX before it is formally released.

FTX’s Massive Ethereum Holdings

FTX previously disclosed its four largest assets, which included Ether coins valued at $192 million, in a filing on September 11. Additionally, it said in its statement that its largest holdings are in Solana, which is worth $1.16 billion, Bitcoins, valued at $560 million, and Aptos (APT), worth $137 million. The company’s funds also contain cash, government-recovered, and brokerage assets.

Bankrupt With Millions In Bag

Coindesk recently took to social media and posted on X about this situation. CoinDesk claims that FTX, declared bankrupt, is set to earn a minimum of $9 million per year, all thanks to Solana and Ethereum stacking worth $150 million, as shown by blockchain. 

Most people have commented positively, highlighting the efficiency and importance of the correct crypto strategy.

 One writes, “Wow, bankrupt and making millions? Just goes to show, that you can never underestimate the power of crypto staking.”