Solana might take an outsized hit from the FTX debacle. This year will most certainly be remembered for the bankruptcy and liquidity crisis. As the FTX cancer spreads, numerous projects and businesses with close ties to the exchange begin to expose themselves. Solana is on the list.
Liquidators Own 13.25% Of Solana Circulating Supply
Solana Compass, a platform that offers a Solana staking service, reported on Nov. 28 that the liquidators of Alameda Research now control $643 million SOL, equivalent to 13.25% of the total circulating supply.
Last week, the FTX’s venture arm reportedly filed for Chapter 11 bankruptcy, undergoing court restructuring. At the time of the move, 48,636,772 SOL tokens valued at over $643 million are in possession of the notorious Alameda Research.
According to Solana Compass, as Alameda Research filed for bankruptcy protection, the SOL stash is now owned by the liquidators and will unlikely circulate for more…
