FTX Real Estate Sells $1.9 Billion Locked-Up SOL at $64 Per Token: Report
FTX Assets sold approximately $1.9 billion worth of SOL to pay down collapsed cryptocurrency debt.
FTX Real Estate has sold about two-thirds of the SOL site, worth about $2.6 billion, Bloomberg reported, citing people familiar with the matter. The lot contained up to 30 million SOLs valued at $64 each. Tokens are discounted because they are locked. That means it will take some time before it becomes available for sale.
Bloomberg added that the FTX property SOL sale was delayed due to “significant buyer interest.” One of the companies interested was Galaxy Trading, a subsidiary of Galaxy Digital, which raised a $620 million fund to purchase FTX’s SOL. The management fee for this fund is 1%.
FTX Real Estate holds a total of 41 million locked SOLs worth approximately $7.5 billion. According to The Block’s Solana price page, Solana was trading at $174.2 as of 1 PM ET today after falling nearly 7% in 24 hours.
SOL on FTX
Since FTX collapsed in November 2022, investors have been scrambling to secure the company’s Solana holdings. Solana accounted for the largest percentage of FTX’s digital asset holdings, followed by Bitcoin, Ethereum, and the Aptos blockchain native token APT.
Digital asset company Neptune Digital previously said it had purchased 26,964 SOLs at $64 each for $1.73 million, with 20% of those lots unlocked in March 2025. Pantera also raised a $250 million fund in March to purchase Solana at a discount on FTX assets. The Block previously reported.
Solana’s price fell to around $10 after the FTX collapse. However, the token rebounded in early 2024. Solana reached an all-time high market capitalization of $81 billion in mid-March, largely thanks to its memecoin. CoinGecko Research even called Solana the most popular blockchain of the year.
Solana’s market capitalization currently stands at $76.9 billion, according to The Block prices, making it the fifth-largest cryptocurrency on that basis.
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