FTX may be using its SOL unlocks to compensate creditors

FTX has received an additional 40 million USD in SOL shortly after selling 31 million USD worth. The exchange’s SOL sales continue to deplete reserves ahead of creditor compensation.

Ongoing sales from FTX may cause pressure on SOL’s market value. Investigations suggest that while some historical sales benefitted prices, future SOL unlocks could also contribute to increased volatility.

The SOL market remains dynamic, with public interest in staking activities and potential future liquidity. As new unlocks occur, SOL’s ability to maintain its price amidst creditor payments is uncertain.