The new management of the bankrupt FTX exchange has identified $5.5 billion in assets that can be used to repay creditors, sparking fears a large swathe of crypto assets could be dumped on markets.
On Jan. 17, FTX debtors identified $3.5 billion in crypto assets with $1.6 billion associated with the bankrupt exchange. The best known holdings are Solana’s SOL and FTX exchange token FTT, along with liquid assets including XRP, DOGE, Aptos (APT), Polygon (MATIC), TON, and BitDAO (BIT).
Liquidators valued the tokens at the time of the bankruptcy petition. Cinneamhain Ventures partner, Adam Cochran, commented:
“So liquidators were counting token prices on the day of filing, and consider the $529M of FTT to be ‘liquid’ in this calculation, as well as $685M of Solana which would