FTX Offloads Giant Solana Pile in Sale Drawing Galaxy, Pantera

FTX’s bankruptcy administrators have sold roughly two-thirds of a $2.6 billion hoard of Solana tokens in a deeply discounted deal that drew industry heavyweights from Galaxy Trading to Pantera Capital, people with knowledge of the matter said.

The FTX estate sold between 25 million and 30 million locked-up SOL coins at $64 apiece, the people said, declining to be identified discussing confidential terms. That would have raised as much as $1.9 billion for the estate. SOL was trading at around $172 on Friday, down 6.5%.

The deal, stemming from FTX’s messy unraveling in November 2022, is unprecedented in scale ...