In the midst of fluctuating cryptocurrency prices, while everyone was expecting new movements in Bitcoin, a significant development occurred regarding the bankrupt cryptocurrency exchange FTX and its creditors.
FTX and Recent Events
FTX creditors will receive at least 118% of their allowed claims in cash within 60 days after approval. Other creditors will receive compensation worth billions in addition to 100% of their allowed claims for the time value of their investments.
In November 2022, the cryptocurrency world was experiencing a second shock following the events surrounding Terra and Do Kwon.
Allegations surfaced that Sam Bankman-Fried, the founder and then CEO of the FTX exchange, was involved in a major crime through the exchange.
After this incident, things were never the same either for the exchange or for SBF. It has been decided by the leading team that it is not possible for the exchange to recover, while SBF appears to have been sentenced to prison.
Following recent news about the repayment amounts by the exchange, a significant dissatisfaction emerged in the cryptocurrency world.
Recently, we shared news with you that Pantera Capital had acquired $5 billion worth of Solana owned by FTX.
How Much is Solana Now?
In 2022, following the FTX events, Solana experienced a decline, falling to $8. Despite ongoing rumors of its demise, by the end of 2023, it topped the list of the year’s highest-gaining altcoins.
The second recovery occurred in March during the meme coin craze that saw BTC approach its ATH. SOL reached over $200 during that period.
As of today, Solana is trading at $148.62, following a 2.7% decline.
