FTX Holds $1.16B in SOL with Alameda’s 42M SOLs Locked!

The post FTX Holds $1.16B in SOL with Alameda’s 42M SOLs Locked! appeared first on Coinpedia Fintech News

Cryptocurrency exchange FTX has invested $1.162 billion in SOL tokens, the native cryptocurrency of the Solana blockchain. The investment has been widely scrutinized by investors, who fear a massive dumping of SOL tokens by FTX. However, according to Solanacompass, over 42.16 million SOLs (67% of the tokens) are currently locked and belong to Alameda, the high-frequency trading firm behind FTX, with unlocking dates starting in 2025. This means that there will be no quick and massive dumping of the token, easing concerns among SOL investors. The news has been welcomed by the Solana community, with many hailing it as a sign of continued institutional adoption of the blockchain.