The Crypto Comeback
The Daily
Cryptocurrency Assets and Solana's Surge
FTX had a significant amount of cryptocurrency assets stored on the platform, but many of these assets went missing or were converted into other cryptocurrencies rather than being retained as Bitcoin. One cryptocurrency that Bankman-Freeze had a large supply of was Solana, which had a low value under $20 per token before FTX collapsed. However, after the collapse, Solana's value surged, reaching around $200 in March. The estate was able to sell a substantial quantity of Solana at this high value, generating billions of dollars to repay creditors. This event highlights the broader trend of Solana's rise in the crypto market.
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