Figure Markets to Participate in FTX’s SOL Auction, Enabling Community Micro-Investments

Prior reports indicated that FTX’s restructuring team still had 41 million SOL awaiting liquidation earlier this year, opting for Galaxy Asset Management as their token liquidation agent. As of early April, around 30 million SOL tokens had changed hands (approximately $1.9 billion), prompting strong criticism from FTX creditors. The institutional cost of SOL stood at just $64, while creditors were still holding out for a conversion price of $16.