---
title: "FTX To Sell $3.4 Billion in Solana, Bitcoin, & Other Tokens"
url: https://diffcoin.com/ftx-to-sell-3-4-billion-in-solana-bitcoin-other-tokens/
description: "Court ruling allows FTX creditors to sell the bankrupt exchange's crypto assets worth billions, including Bitcoin and Solana."
published: 2023-09-13
updated: 2023-09-13
author: "Mila"
site: "Diffcoin"
---

# FTX To Sell $3.4 Billion in Solana, Bitcoin, & Other Tokens

### Key Takeaways

- FTX creditors can sell up to $200M every week
- Galaxy Digital will manage FTX customers’ assets.

#### Share this article

FTX, the now bankrupt crypto exchange, has received court approval to sell its digital assets, which are currently valued at more than $3.4 billion.

Delaware District Judge John Dorsey approved an order to allow the bankrupt exchange to sell, generate yield through staking, and hedge price movements of its crypto holdings to make FTX customers whole.

An attorney representing FTX customers said: “[FTX’s] view is that the digital assets we’re selling are assets of the debtors.”

Here’s a breakdown of FTX’s crypto holdings from this week’s court presentation: 
– $1.16 billion in Solana (SOL) 
– $560M in Bitcoin (BTC) 
– $192M in Ethereum (ETH) 
– $137M in Aptos (APT) 
– $120M in Tether (USDT) and $119M in Ripple XRP 
– $49M in BitDAO (BIT) 
– $46M in DeFi project on LayerZero, Stargate Finance (STG) 
– $41M in Wrapped Bitcoin (WBTC) 
– $37M in Wrapped Ether (WETH)

Another lawyer representing FTX debtors said the crypto assets are “not traceable to the individual customer.”

The bankrupt exchange holds around $11.5 billion in assets, including $4.5 billion in its venture portfolio, $3.4 billion in digital assets, $2.4 billion in cash, $529 million in brokerage investments, and $199 million in Bahamas real estate, among others.

This ruling allows FTX creditors to sell up to $200 million in assets every week. FTX debtors would be required to give the US Department of Justice 10 days’ notice before selling the assets. However, yesterday the exchange agreed with the US Trustee to keep crypto sales private to prevent market impact on prices.

Mike Novogratz’s Galaxy Digital will stake, hedge, and manage the recovered crypto assets for FTX creditors. Novogratz was one of the first ones to voice the need to lock up the founder of FTX, Sam Bankman-Fired. However, Galaxy Digital reported losing half a billion dollars last year in Q2.

SOL is up 2% in the last 24 hours, and 6% down in the last week. Bitcoin is trading flat 0.4% at $26,195, according to CoinGecko.

#### Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

[Source link](https://cryptobriefing.com/ftx-sell-3-4-billion-solana-bitcoin-tokens/?utm_source=feed&utm_medium=rss)