Galaxy Trading created a $620 million fund to buy up the discounted SOL from the FTX estate, Bloomberg reports.
The FTX estate sold around $1.9 billion worth of SOL in a bid to clear the collapsed crypto exchange of debt.
A delay of an FTX estate SOL sale occurred due to "significant buyer interest," Bloomberg adds. One interested entity was Galaxy Trading, a subsidiary of Galaxy Digital, which set up a $620 million fund to buy up FTX's SOL. This fund has a management fee of 1%. The digital asset firm Neptune Digital previously stated that it bought 26,964 SOL at $64 each for $1.73 million, with 20% of that lot unlocking in March 2025. Pantera also established a $250 million fund in March to purchase the discounted Solana of the FTX estate, The Block previously reported.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pantera Capital Eyes $250 Million Opportunity with FTX Estate for SOL: ReportCrypto Blog
Read more »
Crypto Market Conditions That Fueled FTX, Bankman-Fried, No Longer Hold: Galaxy DigitalWill Canny is CoinDesk's finance reporter.
Read more »
Another leak suggests Galaxy Flip 6 might mirror Galaxy S24's Exynos vs Snapdragon divideTsveta, a passionate technology enthusiast and accomplished playwright, combines her love for mobile technologies and writing to explore and reveal the transformative power of tech.
Read more »
Samsung’s cheap Galaxy A55 has a feature the Galaxy S24 will never getThe Galaxy A55 supports seamless Android updates, a feature that's not even available on the Galaxy S24 flagships.
Read more »
Samsung Galaxy M54 vs Galaxy A54: A Budget Smartphone ComparisonThe Galaxy M series offers performance and value for budget-conscious consumers. The Galaxy M54 outperforms the Galaxy A54 with improved hardware and a bigger camera. Both phones have an Exynos 1380 processor, 8GB RAM, and either 128 or 256GB of storage.
Read more »
Android Circuit: Pixel 8 Pro Defeats Galaxy S24, Nothing Phone (2a) Arrives, Galaxy Ring Release DateI am known for my strong views on mobile technology, online media, and the effect this has on the public conscious and existing businesses.
Read more »