🌋 Could Solana Be FTX's Lifeline?
posted 15 Dec 2023
The cryptocurrency SOL, once championed by Sam Bankman-Fried of the now-bankrupt FTX exchange, has witnessed a remarkable rise, currently priced around $75. At the start of 2023, its cost was approximately $14, indicating an increase of over five times.
Additionally, the Solana blockchain ecosystem has expanded considerably, with a total value locked (TVL) that briefly hit $1 billion today, as per DefiLlama's data.
CoinGecko reveals that FTX's SOL holdings are at 55.8 million, with 42.2 million of these locked. Initially valued at $1.16 billion, these assets have now ballooned to over $4,2 billion, potentially offering FTX a significant opportunity to settle its claims.
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