The estate of the imploded Futures Exchange (FTX) recently rounded up its Solana (SOL) auction sales worth about $2.6 billion, with Pantera Capital, a US investment firm, acquiring more tokens.
Notably, renowned crypto exchange Figure Markets was among the big spenders in the most recent discounted sales after acquiring about 800,000 SOL at an average selling price of $102 per token, which amounted to roughly $80 million.
Meanwhile, at the time of drafting this report, Pantera Capital procurement details have not been made public. However, there are high possibilities that the selling price for each Solana token would revolve around the same price region as that of Figure Markets.
Recall that the United States investment firm has been active in the Solana auction sales by the FTX estate, acquiring about $250 million worth of SOL and about 2,000 Solana tokens in two different procurement processes.
Implications Of The Sales For Investment Firms And FTX Creditors
Considering Solana's market standings, especially how the coin seems to be appreciating remarkably, it becomes safe to say that investment firms that purchased substantial token stores from the auction sales are the biggest winners of the whole saga.
At press time, Solana's selling price, according to CoinMarketCap, was revealed to be approximately $165, implying a 38.2% discount in the most recent auction at $102 per token.
On the other hand, the swift sell-out implies that FTX creditors would receive their refund in no distant time, even though most seem to disagree with the refund policy, which emphasized compensation based on market values of individual asset holdings on the exchange at the time of FTX collapse.
FTX Estate Extends Deadline For Claim Submission
According to one of our old publications, the FTX creditors claim submission deadline was extended by about three months to afford creditors quality time to participate in the process. Hence, customers have until August to complete the procedures or risk losing their valuables completely.
Meanwhile, the participation method remains either via the Bahamas or US procedure and not both simultaneously. Creditors should anticipate a guide about the implications of opting for either the Bahamas or US procedure in June, as it could be crucial in helping them make the right decisions.
