Bankrupt FTX moves $156M worth of assets including Ethereum and Solana
Blockchain analytics firm Nansen reported that wallets connected to bankrupt FTX have moved up to $156 million worth of digital assets, including Ethereum (ETH) and Solana (SOL), in several transactions over the past week.
Unstakes Solana
In an Oct. 31 post on X (formerly Twitter), Nansen reported that FTX began unstaking 1.6 mill SOL tokens, worth approximately $57.6 million, on Oct. 30.
While the unstaked assets are currently held in the staking wallet, FTX’s fund movement will increase the total SOL transferred to nearly $90 million.
Earlier in the month, FTX liquidators staked approximately $120 million in Solana tokens through Figment, an institutional staking service provider. This move is anticipated to yield up to 7% return in staking rewards and is expected to help the bankrupt firm maximize its assets.
$156M transferred
Nansen, while adding FTX’s recently unstaked Solana assets to the stream of transactions from the insolvent company to crypto exchanges like Binance and Coinbase, estimated a movement of approximately $156 million worth of digital assets.
According to Nansen’s analysis, the new wave of transactions included 1,100 ETH valued at $2 million, 10.5 million USDC, and 7.6 million Render tokens worth $500,000.
FTX also transferred 833,000 Kyber Network Crystal (KNC) tokens, equivalent to $616,000, and 108 million TRUE tokens worth $420,000. Further assets included 138,000 Band Protocol tokens valued at $221,000, 2.5 million The Graph tokens equivalent to $273,000, 845 Maker tokens valued at $1.17 million, and 9.5 million REN tokens worth $500,000.
Additionally, there were 695,000 Perpetual Protocol Tokens valued at $423,000, 767,000 Biconomy Tokens worth $182,000, and 23,000 Polygon tokens worth $15,000.
FTX claims value rise
Prices for FTX claims increased following reports of a $2 billion investment by Google in the artificial intelligence startup Anthropic.
Ikigai hedge fund manager Travis Kling posited that the investment had driven “FTX bankruptcy pretty close to a full recovery.”
In an interview with CryptoSlate, Thomas Braziel, an expert on FTX claims at 117 Partners, urged creditors to remain cautious. This was reiterated in a post on X (formerly Twitter), where he highlighted that there was no valuation mentioned in the Google-Anthropic investment, adding that:
“Great to see this news tonight but the bankruptcy still have a big road ahead of it.”
Data from Cherokee Acquisition shows that the claim’s value has risen to between 50 and 53 cents on the dollar as of press time.
The post Bankrupt FTX moves $156M worth of assets including Ethereum and Solana appeared first on CryptoSlate.
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Bankrupt FTX moves $156M worth of assets including Ethereum and Solana
Blockchain analytics firm Nansen reported that wallets connected to bankrupt FTX have moved up to $156 million worth of digital assets, including Ethereum (ETH) and Solana (SOL), in several transactions over the past week.
Unstakes Solana
In an Oct. 31 post on X (formerly Twitter), Nansen reported that FTX began unstaking 1.6 mill SOL tokens, worth approximately $57.6 million, on Oct. 30.
While the unstaked assets are currently held in the staking wallet, FTX’s fund movement will increase the total SOL transferred to nearly $90 million.
Earlier in the month, FTX liquidators staked approximately $120 million in Solana tokens through Figment, an institutional staking service provider. This move is anticipated to yield up to 7% return in staking rewards and is expected to help the bankrupt firm maximize its assets.
$156M transferred
Nansen, while adding FTX’s recently unstaked Solana assets to the stream of transactions from the insolvent company to crypto exchanges like Binance and Coinbase, estimated a movement of approximately $156 million worth of digital assets.
According to Nansen’s analysis, the new wave of transactions included 1,100 ETH valued at $2 million, 10.5 million USDC, and 7.6 million Render tokens worth $500,000.
FTX also transferred 833,000 Kyber Network Crystal (KNC) tokens, equivalent to $616,000, and 108 million TRUE tokens worth $420,000. Further assets included 138,000 Band Protocol tokens valued at $221,000, 2.5 million The Graph tokens equivalent to $273,000, 845 Maker tokens valued at $1.17 million, and 9.5 million REN tokens worth $500,000.
Additionally, there were 695,000 Perpetual Protocol Tokens valued at $423,000, 767,000 Biconomy Tokens worth $182,000, and 23,000 Polygon tokens worth $15,000.
FTX claims value rise
Prices for FTX claims increased following reports of a $2 billion investment by Google in the artificial intelligence startup Anthropic.
Ikigai hedge fund manager Travis Kling posited that the investment had driven “FTX bankruptcy pretty close to a full recovery.”
In an interview with CryptoSlate, Thomas Braziel, an expert on FTX claims at 117 Partners, urged creditors to remain cautious. This was reiterated in a post on X (formerly Twitter), where he highlighted that there was no valuation mentioned in the Google-Anthropic investment, adding that:
“Great to see this news tonight but the bankruptcy still have a big road ahead of it.”
Data from Cherokee Acquisition shows that the claim’s value has risen to between 50 and 53 cents on the dollar as of press time.
The post Bankrupt FTX moves $156M worth of assets including Ethereum and Solana appeared first on CryptoSlate.
Read More