The brand-new management of the bankrupt FTX exchange has actually recognized $5.5 billion in properties that can be utilized to pay back creditors, sparking worries a big swathe of crypto possessions might be discarded on markets.On Jan. 17, FTX debtors determined$3.5 billion in crypto assets with$1.6 billion related to the insolvent exchange. The very best understood holdings are Solana’s SOL and FTX exchange token FTT, in addition to liquid possessions consisting of XRP, DOGE, Aptos(APT), Polygon(MATIC), TON, and BitDAO(BIT). Liquidators valued the tokens at the time of the personal bankruptcy petition. Cinneamhain Ventures partner, Adam Cochran, commented:”So liquidators were counting token rates on the day of filing, and consider the$ 529M of FTT to be’liquid ‘in this computation, as well as$685M of Solana which would mega nuke the SOL market. “He included these were the only “liquid”tokens they counted, adding “whatever else is going to tank the rate if you sell it.”1/2 So liquidators were counting token rates on the day of filing
, and think about the $529M of FTT to be” liquid “in this estimation, in addition to $685M of Solana which would mega nuke the SOL market. pic.twitter.com/UTIxQ4EDdX!.?.!— Adam Cochran(adamscochran.eth)(@adamscochran )January 17, 2023 A list of illiquid crypto tokens has likewise been determined raising issues they could be sold causing a price crash.On Jan. 18, Fortune press reporter Leo Schwartz likewise posted the FTX report, highlighting the “illiquid tokens “list includes practically 10 billion Serum (SRM), LUNA, and Solana-wrapped variations of BTC and ETH. However numerous were odd job tokens such as TRUMPLOSE, BEAR, and MEDIA.A breakdown of what FTX has deemed”illiquid tokens,” including my personal favorite easter egg from the infamous SBF balance sheet, TRUMPLOSE https://t.co/iz9wAF3fM4 pic.twitter.com/c3HHlrtiwM!.?.!— Leo Schwartz(@leomschwartz)January 17, 2023
He highlighted TRUMPLOSE as an”Easter egg” which connect FTX and Alameda supporting Democrat politicians with large donations. TRUMPLOSE is a forecast token that FTX utilized throughout the U.S. presidential election. Traders could purchase TRUMPWIN or TRUMPLOSE tokens that
would solve to $1 ought to Trump have actually won or lost. FTX holds almost 14 countless them.BEAR Coin
is a cryptocurrency created to help animals by decentralized fundraising in cooperation with NGOs and animal enthusiasts. There are 190 billion of them on the FTX balance sheet.It also has 8.3 million tokens from the bandwidth-sharing network, Media. The list happens with 9.8 billion MAPS tokens from the Maps.me travel app, and almost 10 billion OXY tokens for the Solana-based DeFi broker Oxygen.Related: FTX has actually recovered over$5B in money and liquid crypto
: Report Other illiquid possessions include 2.4 billion Alium Finance (ALM ), and more than 277 million in Bonafida(FIDA), a Solana designer platform. The list likewise included BRZ, GT, LIKE, HRXO, MSOL, JSOL, XSUSHI, AELPH, and JET holdings. SBF still blogging On Jan. 18, FTX founder Sam Bankman-Fried reappeared with a brand-new blog post declaring the FTX report’s details on the state of the business was”very deceptive.””FTX US was solvent when it was committed S&C [Sullivan & Cromwell], and likely stays solvent today, “he specified.
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