FTX Estate Controls $1.1B in Solana and $560M in Bitcoin Amid Bankruptcy Revelations

The FTX estate, presently overseeing the bankruptcy and restructuring of the once-active crypto exchange, reveals holdings of $1.16 cardinal successful solana (SOL) and $560 cardinal successful bitcoin (BTC).

16% of Solana’s Market Cap Is Held by FTX

In a caller Monday tribunal filing, a stakeholder update showcases the premier integer assets held by the estate. As of August 31, 2023, these liquid tokens person a combined worth of $3.4 billion. Additionally, the update showcases astir $200 cardinal successful Bahamian existent estate. Solana (SOL) emerges arsenic the ascendant plus successful FTX’s portfolio.

As of September 11, 2023, with SOL’s marketplace headdress lasting astatine $7.24 billion, FTX’s portion is simply a important 16%, equating to $1.16 billion. FTX’s divers crypto portfolio besides includes $560 cardinal successful BTC, $192 cardinal successful ETH, $137 cardinal successful APT, $120 cardinal successful USDT, $119 cardinal successful XRP, $49 cardinal successful BIT, $46 cardinal successful STG, $41 cardinal successful WBTC, and $37 cardinal successful WETH. Furthermore, FTX possesses implicit $529 cardinal successful securities housed successful Debtor brokerage accounts, of which $417 cardinal resides successful the Grayscale Bitcoin Trust (GBTC).

Apart from that, a humble $0.1 cardinal is placed successful Blackrock equity nether FTX’s control. Delving into FTX’s task collection, it boasts 438 investments, amassing $4.5 cardinal successful funded assets. Notably, it includes a important involvement successful Anthropic, a rival to Openai and the brains down the generative AI chatbot, Claude. It’s worthy mentioning that FTX besides owns implicit 1,000 illiquid crypto assets, which whitethorn not recognize their afloat imaginable value.

What bash you deliberation astir the FTX stakeholder update? Share your thoughts and opinions astir this taxable successful the comments conception below.