FTX Estate Controls $1.1B in Solana and $560M in Bitcoin Amid Bankruptcy Revelations

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The FTX estate, currently overseeing the bankruptcy and restructuring of the once-active crypto exchange, reveals holdings of $1.16 billion in solana (SOL) and $560 million in bitcoin (BTC).

16% of Solana’s Market Cap Is Held by FTX

In a recent Monday court filing, a stakeholder update showcases the premier digital assets held by the estate. As of August 31, 2023, these liquid tokens have a combined value of $3.4 billion. Additionally, the update showcases nearly $200 million in Bahamian real estate. Solana (SOL) emerges as the dominant asset in FTX’s portfolio.

As of September 11, 2023, with SOL’s market cap standing at $7.24 billion, FTX’s slice is a significant 16%, equating to $1.16 billion. FTX’s diverse crypto portfolio also includes $560 million in BTC, $192 million in ETH, $137 million in APT, $120 million in USDT, $119 million in XRP, $49 million in BIT, $46 million in STG, $41 million in WBTC, and $37 million in WETH. Furthermore, FTX possesses over $529 million in securities housed in Debtor brokerage accounts, of which $417 million resides in the Grayscale Bitcoin Trust (GBTC).

Apart from that, a modest $0.1 million is placed in Blackrock equity under FTX’s control. Delving into FTX’s venture collection, it boasts 438 investments, amassing $4.5 billion in funded assets. Notably, it includes a significant stake in Anthropic, a rival to Openai and the brains behind the generative AI chatbot, Claude. It’s worth mentioning that FTX also owns over 1,000 illiquid crypto assets, which may not realize their full potential value.

What do you think about the FTX stakeholder update? Share your thoughts and opinions about this subject in the comments section below.