{"id":20044,"date":"2024-05-09T07:45:05","date_gmt":"2024-05-09T07:45:05","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20044"},"modified":"2024-05-09T06:13:20","modified_gmt":"2024-05-09T06:13:20","slug":"ftx-launches-auction-for-third-part-of-unlocked-solana","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ftx-launches-auction-for-third-part-of-unlocked-solana\/","title":{"rendered":"FTX Launches Auction for Third Part of Unlocked Solana"},"content":{"rendered":"<p><a href=\"https:\/\/coinengineer.net\/blog\/ftx-proposes-bold-reorganization-plan-promising-98-payback-to-creditors\/\">FTX<\/a> property began bidding for the third tranche of locked-in Solana this week; This is another step in the process of offloading approximately 41 million locked SOLs. The auction, scheduled for May 9, follows previous sales including a large initial offering in March and a smaller auction last month.<\/p>\n<p>In the first sale in March, tokens were sold for $64 each to bidders such as Galaxy Trading and Pantera; this represents approximately two-thirds of the estate&#8217;s total Solana assets. Last month, an additional 1.8 million Solana sold at auction for approximately $232 million; bids ranged from $85 to $110. The success of bids, especially at $95 and above, reflects continued interest in Solana despite market fluctuations.<\/p>\n<p>FTX legacy plans to unlock cryptocurrencies over a four-year period, with staking rewards awarded according to the vesting schedule. Despite ongoing sales of the locked-up Solana, the <a href=\"https:\/\/coinengineer.net\/blog\/former-ftx-executive-agrees-to-surrender-multimillion-dollar-bahamas-property-in-plea-deal\/\">FTX<\/a> estate recently filed a draft Chapter 11 bankruptcy plan with creditors that aims to provide at least 118% of allowable claims.<\/p>\n<p>Galaxy Asset Management, which is responsible for managing the sale of locked Solana on behalf of FTX assets, has not yet commented on the latest auction. Additionally, FTX legacy did not respond to requests for comment at the time of this writing.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FTX property began bidding for the third tranche of locked-in Solana this week; This is another step in the process of offloading approximately 41 million locked SOLs. The auction, scheduled for May 9, follows previous sales including a large initial offering in March and a smaller auction last month. In the first sale in March,<\/p>\n","protected":false},"author":6,"featured_media":11023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,2],"tags":[496,5325],"class_list":["post-20044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exchange-news","category-news","tag-ftx","tag-ftx-solana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FTX Launches Auction for Third Part of Unlocked Solana - Coin Engineer<\/title>\n<meta name=\"description\" content=\"FTX property began bidding for the third tranche of locked-in Solana this week; This is another step in the process of offloading approximately 41 million locked Solana&#039;s.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ftx-launches-auction-for-third-part-of-unlocked-solana\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FTX Launches Auction for Third Part of Unlocked Solana - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"FTX property began bidding for the third tranche of locked-in Solana this week; This is another step in the process of offloading approximately 41 million locked Solana&#039;s.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/ftx-launches-auction-for-third-part-of-unlocked-solana\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-09T07:45:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-09T06:13:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/02\/FTX-2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"432\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/ftx-launches-auction-for-third-part-of-unlocked-solana\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/ftx-launches-auction-for-third-part-of-unlocked-solana\/\",\"name\":\"FTX Launches Auction for Third Part of Unlocked Solana - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/ftx-launches-auction-for-third-part-of-unlocked-solana\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/ftx-launches-auction-for-third-part-of-unlocked-solana\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/02\/FTX-2.jpg\",\"datePublished\":\"2024-05-09T07:45:05+00:00\",\"dateModified\":\"2024-05-09T06:13:20+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\"},\"description\":\"FTX property began bidding for the third tranche of locked-in Solana this week; 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