Official auction results published by FTX or statements from FTX representatives.

FTX to Auction 21M Locked Solana Tokens at 50% Discount

Apr 22, 2024, 06:30 PM

FTX's bankruptcy estate is set to auction off its remaining locked Solana ($SOL) tokens, transitioning from fixed-price sales to an auction format due to high buyer interest. This decision follows a successful sale of two-thirds of FTX's locked tokens. The auction will include about 21 million SOL tokens, available at a discount of approximately 50% compared to the spot price. Figure Markets CEO Mike Cagney confirmed the auction details, with further information expected on Monday. The auction opens participation to retail investors with a minimum bid of $5,000, a significant change from the previous $5 million requirement. This adjustment aims to broaden potential buyer participation, incorporating a KYC process.