The result of the auction is scheduled to be announced the next day. This development comes after reports from FTX revealed that the company sold approximately $307.6 million worth of SOL and ZBC tokens in March.
However, the total figures for April have not yet been disclosed. There are multiple bidders for the auction, including Figure Markets, Pantera Capital, and Abra.
Abra’s CEO, Bill Barhydt, confirmed the company’s participation in an interview. Pantera Capital is reportedly considering whether to bid directly in the auction or through a special-purpose vehicle (SPV).
FTX’s firm sees the auction as an “investment opportunity” and is preparing to compete in it while also raising funds for an SPV to participate. Last year’s filings revealed that SOL comprised the majority of FTX’s crypto holdings.
As of the time of writing, SOL was trading at $15.79, reflecting a 1.6% increase over the past 24 hours.
