FTX has been channeling a staggering $316 million in digital dough to various crypto exchanges, with $SOL leading the pack. 🎒
This isn’t just a casual crypto clearance sale; it’s a full-blown bankruptcy bonanza, with Ethereum (ETH) and other blockchain bigwigs joining the parade.
The crypto sleuths at Loononchain posted this on X late last evening:
UPDATE:#FTX transferred ~$39.7M assets today, including:
750K $SOL($32M)
325,301 $ENS($2.76M)
10.1M $GMT($2.2M)
642,702 $LDO($1.26M)
288,212 $APE($410K)
127,418 $BADGER($365K)
555,342 $BNT($323K)
52 $PAXG($100K)As of Nov 8, #FTX has transferred ~$316M assets.… pic.twitter.com/XeSAseMBR0
— Lookonchain (@lookonchain) November 8, 2023
Solana’s been the belle of the ball, making up more than half of FTX’s transfers. We’re talking about a whopping 4.8 million SOL tokens, tallying up to $187 million. Despite the potential for a market flood, SOL’s been strutting its stuff, consolidating between the $40 and $44 value area.
And to make things even more interesting, an FTX phoenix rising from the ashes may be a real thing in the future. The Wall Street Journal lifted the veil yesterday, revealing contenders like Tom Farley’s Bullish, Figure Technologies, and Proof Group, all jockeying for FTX’s remnants. 🏇