Proposal Made to Distribute SOL Tokens Held by FTX to Bankrupt Exchange Customers

One sentence summary – Anatoly Yakovenko, co-creator of Solana, has proposed redistributing nearly seven million SOL tokens held by FTX to former customers of a bankrupt exchange, arguing that it would benefit customers and contribute to the growth of the Solana network, although the proposal is still in the suggestion phase and has not been implemented or agreed upon by all parties involved.

At a glance

  • Anatoly Yakovenko proposes redistributing nearly seven million SOL tokens currently held by FTX
  • The tokens are worth around $135 million and are stored in FTX’s cold storage wallets
  • The proposal suggests distributing the tokens to former customers of a bankrupt exchange
  • Yakovenko believes this method would be more efficient and effective than the ongoing legal process
  • The proposal has gained attention within the cryptocurrency community and its outcome will have significant ramifications

The details

Anatoly Yakovenko, co-creator of Solana, has recently proposed a redistribution of SOL tokens currently held by FTX, a leading cryptocurrency exchange.

The tokens in question total nearly seven million SOL, estimated to be worth around $135 million.

These tokens are currently stored in FTX’s cold storage wallets.

Proposal for Redistribution

Yakovenko’s proposal suggests that these SOL tokens should be distributed to the former customers of a bankrupt exchange.

He argues that this redistribution would not only benefit the customers but also contribute to the growth and stability of the Solana network.

Yakovenko proposes that distributing the tokens among five million users could yield significant long-term benefits for the network.

Efficiency and Effectiveness

The basis of this proposal is Yakovenko’s belief that this method of distribution would be more efficient and effective than the ongoing legal process that FTX is currently involved in.

He suggests that by directly providing SOL tokens to the affected customers, the process could be expedited.

This would ensure that the customers receive their fair share while simultaneously supporting the Solana network.

FTX’s holding of a substantial number of SOL tokens has significantly impacted the value of Solana.

The token’s price experienced a sharp decline from $260 to $8 as a result of FTX’s large holdings.

Currently, SOL is trading at approximately $19.35.

Community Attention

Yakovenko’s proposal has gained attention within the cryptocurrency community.

Proponents highlight its potential to address the needs of the customers affected by the bankruptcy while bolstering the Solana ecosystem.

However, it is important to note that this idea is still in the realm of suggestion and has not yet been implemented or agreed upon by all relevant parties.

As the situation continues to unfold, stakeholders will closely monitor the developments surrounding the fate of the SOL tokens held by FTX.

The potential implications of their redistribution will also be closely watched.

The outcome of these discussions will have significant ramifications for both FTX customers and the Solana network as a whole.

Article X-ray

A group of people receiving small tokens from a person holding a sign that says “FTX Tokens” with a smile on their faces.

This section links each of the article’s facts back to its original source.

If you have any suspicions that false information is present in the article, you can use this section to investigate where it came from.

dailyhodl.com
– Anatoly Yakovenko, co-creator of Solana, suggests that SOL tokens held by FTX should be redistributed to the bankrupt exchange’s former customers.
– FTX still holds nearly seven million SOL tokens in cold storage wallets, valued at around $135 million.
– Yakovenko believes that distributing the SOL tokens to FTX customers would benefit both the customers and the Solana network.
He suggests that distributing the tokens to five million users would have long-term benefits for the network.
– Yakovenko argues that this distribution would be more efficient than the current legal process FTX is going through.
– FTX’s large SOL holdings had a significant impact on Solana’s value, causing it to drop from $260 to $8.
– Currently, SOL is trading at $19.35.

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